Cybersecurity Expert: Why Your Business Needs This One Thing That 62% of Companies Already Have

AI-driven scams and cyberattacks are becoming more sophisticated, moving faster than most businesses can keep up with. From phishing emails generated by large language models to deepfakes of a CEO’s voice authorizing fraudulent wire transfers, scammers are taking full advantage of both human error and machine deception.

According to Heimdal Security’s latest cyber insurance statistics report, 62% of businesses worldwide now hold a cyber insurance policy, up sharply from 49% in 2024. This rapid rise shows a clear shift in mindset.

“Cyber insurance is no longer seen as optional; it’s fast becoming a cornerstone of modern business resilience,” says Danny Mitchell, cybersecurity writer at Heimdal Security. Below, Mitchell explains the reasoning and statistics behind this growing trend.

The rise of cyber insurance: A $20.56 billion market

In 2025, the global cyber insurance market reached $20.56 billion. That’s a significant milestone, though growth has slowed from the explosive 31% rate seen between 2017 and 2022.

The reason? A mature market, as more firms are already insured than ever before.

Premiums are currently 6% lower than in 2024 and 22% lower than their 2022 peak. However, experts predict a rebound in 2026, with costs expected to jump between 15% and 20%.

“This fluctuation reflects insurers recalibrating after an era of intense ransomware losses,” says Mitchell. “We’ve reached a point where insurers finally understand cyber risk at scale. Prices dipped because claims fell, but as AI makes attacks faster and more targeted, expect those savings to disappear. What you save today on premiums could cost ten times more in the next data breach.”

Who’s buying, and who’s still hesitant

While nearly two-thirds of global firms now have some form of cyber insurance, adoption varies by company size. According to Swiss Re, a leading insurance…

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