The market for cyber insurance is growing rapidly
Keystone-SDA
The number of cyberattacks in Switzerland continued to rise last year. In the face of increasing fraud and phishing attempts, the market for cyber insurance is booming: the premium volume has tripled within four years.
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According to the Swiss Insurance Association (SIA), more than 400,000 private individuals and around 67,000 companies have such insurance cover. Half of all large corporations are insured, compared to only 5% to 10% of small and medium-sized businesses (SMEs).
+ Almost one attack a day reported on critical Swiss infrastructures
Cyber insurance covers both the costs incurred directly by the insured person and damage caused by third parties. For example, if encrypted data is stolen or if there is a business interruption. As a rule, ransom demands and losses in connection with armed conflicts are excluded.
In view of the steadily increasing number of cyberattacks in Switzerland (+3% in 2025), the government and various organisations are launching a month-long awareness-raising campaign on Monday.
Adapted from German by AI/ts
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