Cyber ins. market to double by 2020 to $8 billion
Friday, 09 21 2018, Category: Technology, Country: World
The market for insurance against cyber threats will double by 2020 to over $8 billion, German reinsurance giant Munich Re told a conference in Monaco.
“Cyber risks are one of the biggest threats to the networked economy,” Munich Re board member Torsten Jeworrek said in a statement on the first day of an annual meeting of reinsurers in the Mediterranean principality.
Munich Re estimated that companies could more than double their spending on cyber insurance from $3.4-$4 billion in 2017 to $8-$9 billion by 2020.
Source: The Japan Times