TECH SUPPLIER Aug 2022 - IDC Survey - Doc # US49551622

Cyberinsurance Trends in 2022

By:

Philip D. Harris, CISSP, CCSK
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Abstract

This IDC Survey discusses the state of the cyberinsurance market, and the emerging trends are as follows:

  • Cybersecurity is playing a major role in DX strategies with organizations increasing spend in cybersecurity.
  • Cyberinsurance is being utilized by a slight majority of organizations worldwide with 70% required to have a separate policy for ransomware.
  • Cyberinsurance premiums are expected to increase in 2023, and cyberinsurers continue to use self-assessment forms for 44% of organizations.
  • The majority, 91%, of organizations need an assessment before buying cyberinsurance, and a number of cyberinsurers are leveraging cybersecurity service providers.

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