Enhancing Proactive Security Measures
Cyber insurance is not just about financial protection; it's driving companies to invest more in proactive security measures. According to the Omdia survey, more than 70% of respondents view cyber coverage as crucial to their company's security strategy. Insurers are increasingly offering resources like incident response planning and partnerships with cybersecurity firms, helping insured companies better prepare for potential threats.
Market Implications for Insurers
The rising demand for standalone cyber policies highlights the need for insurers to offer comprehensive coverage that includes proactive risk management services. As companies continue to recognize the value of cyber insurance, the industry should expect significant growth in this segment, with a focus on enhancing client engagement and offering value-added services.