The 2024 Global Market Report from the QualRisk Cyber Insurance Centre says the global cyber insurance market will double in size by 2030. The publication reported that global cyber insurance premiums grew at 6% in 2023, the slowest rate of growth since 2019. Total premiums were around £11.5bn.

Daniel Kasper, CEO of QCC, said: “While the US has been the major driver of cyber insurance premiums in the past decade and will remain the most important market for the foreseeable future, our view is that the bulk of the future growth will be generated in other regions, starting with Europe in the remainder of the 2020s and Asia well into the 2030s.”