Cyber insurance, PwC estimates the market at 2.5 billion USD in premiums

A new study on IT risks insurance has just been published by PricewaterhouseCoopers (PwC). The audit firm has evaluated this market in terms of annual premiums to 2.5 billion USD and predicts its tripling to 7.5 billion USD by 2020.

In connection with similar works, the German insurer Allianz had recently indicated that this segment would increase tenfold to reach 20 billion USD by 2025.

PwC has pointed out that despite increasingly high levels of risks; companies remain reluctant to use cyber insurance. This lack of interest could be explained by high coverage costs, strict terms and conditions, restrictions on insurance claims as well as inappropriate insurance offers.