According to an Allianz Global Corporate & Specialty (AGCS) survey released on september 2015, the global cyber security market is going to reach $20bn by 2025 and the pressure to increase security will continue to grow.

Cyber attacks are going to get stronger in frequency and strength due to increasing globalisation and connectivity: since businesses have become increasingly reliant on the internet and real-time data, business interruption is another considerably dangerous cyber risk.

Systems that are down for even a minute can create a domino effect that could result in substantial loss of income, trade secrets, and business reputation for companies.

While cyber insurance is no replacement for robust IT security, it definitely plays a key role in the cyber risk management process.

Source: Microscope.co.uk