Demand for cyber insurance on the rise, joint Swiss Re/ IBM study shows
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About the project
Following several high-profile cyber security breaches over recent years, a growing number of corporations perceive cyber as a high risk. Swiss Re therefore expects the demand for cyber insurance to rise. These are the findings of a joint study Swiss Re and the IBM Institute for Business Value conducted this year.
1800 companies (800 insurers and 1000 companies from other industries) participated in the study "Cyber: in search of resilience in an interconnected world". The joint Swiss Re/IBM survey of company CROs, CTOs, CISOs, or similar functions in January 2016 showed that 48% of the companies currently consider the threat from digital interconnectedness to be greater than other risks, and that 60% believe cyber will become a bigger risk over the next 10 years.