Story perspectives

Cyber Insurance Market Expands Amid Rising Ransomware Threats

5/15/2025

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Summary

Story summary

Cyber risk poses a critical challenge for businesses, necessitating collaboration between companies and insurers for improved security.
Ransomware and business email compromise are major threats, with 90% of ransomware attacks originating from phishing.
Non-malicious incidents, such as software outages, underscore the importance of clear cyber insurance policies.
The US cyber insurance market is expanding, favoring clients with robust cybersecurity practices.
MSIG USA seeks to innovate in cyber insurance, utilizing expertise to tackle emerging risks.

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Story summary

Cyber risk poses a critical challenge for businesses, necessitating collaboration between companies and insurers for improved security.
Ransomware and business email compromise are major threats, with 90% of ransomware attacks originating from phishing.
Non-malicious incidents, such as software outages, underscore the importance of clear cyber insurance policies.
The US cyber insurance market is expanding, favoring clients with robust cybersecurity practices.
MSIG USA seeks to innovate in cyber insurance, utilizing expertise to tackle emerging risks.