Munich Re Global Cyber Risk and Insurance Survey 2022

More action required for higher cyber resilience

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Munich Re has been involved in managing cyber risk from the first moment it became a consideration. The results of our Global Cyber Risk and Insurance Survey 2022 underline that there is clearly more action required – for policyholders and the insurance industry.

Cyber insurance – A growing market with huge potential

Cyber insurance is fundamental for the successful digitalisation of the economy. Our goal as one of the market leaders is clear: to jointly develop innovative, datacentric cyber solutions with our clients and partners. Our approach to maintain a sustainable cyber insurance market is unchanged: disciplined in underwriting an stringent in risk management with a clearly defined risk appetite.

Learn more in the scrollytelling section, below that you can download the report.

We asked more than 7000 participants ...

in the following positions ...

from 14 countries ...

with around 500 participants each ...

covering a wide range of industries ...

and annual company revenue.

Here is a glimpse at the survey results.

How concerned are you about a potential cyberattack against your company?

Which of the following have you ever been affected by? (C-Level)

Which statement best describes the cyber insurance status of your company? (C-Level)

Do you consider taking out a cyber insurance policy?

Discover more facts and figures in our detailed whitepaper.

Cyber risk and cyber insurance - A gap between awareness and preparedness

Given the increasing frequency and severity of cyber-attacks, our survey reveals that the insurance gap is disproportionately high. The mismatch between risk awareness and implementation of protection measures and the need for more capacity remains a challenge. Our task is to understand what is required to adopt proper cyber solutions and services for businesses and individuals, as well as the pain points the global economy faces when it comes to cyber preparedness and incident response. In order to get first-hand insight into these questions, as well as to assess the general level of knowledge on contemporary cyber insurance solutions in the market, Munich Re expanded its Global Cyber Risk and Insurance Survey to obtain a representative overview of the status quo.

Highlight findings from our new Global Cyber Risk and Insurance Survey 2022

The survey we conducted included more than 7,000 participants from 14 countries, all industries and company sizes, and covered the topics of risk awareness, cyber exposure for companies and private individuals, as well as the role of cyber insurance with its cover elements and services.

Cyber Risk and Insurance Survey 2022 – The results

All companies surveyed are focusing more strongly on new, smart technologies. In line with these developments, security vulnerabilities and cyber-attacks are also on the rise. Although awareness among surveyed managers has risen by nearly 10% since our global survey in 2021, the perception of the cyber threat landscape and what needs to be done to properly address it still varies greatly by region. As a result, cyber security protection measures remain relatively low. And decision makers are aware of this: 83% of surveyed representatives said that their own company is not adequately protected against digital threats.

Digital disruption is progressing on a global level and associated dependencies are advancing enormously – and they make no allowance for those who are not sufficiently prepared. The insurance industry has proven that it can provide real value-add for its clients with comprehensive solutions that adapt to the rapidly changing risk landscape. Munich Re, in particular, constantly innovates as a leading cyber reinsurer. We offer long-standing expertise and sophisticated insurance solutions.

Get access to detailed and valuable insights from our new Cyber Risk and Insurance Survey 2022. Gain a better understanding of global and regional differences in cyber threat perceptions and the reasons for taking out cyber insurance. Learn more about how cyber preparedness status varies by industry or company size. Download the 2022 report here and now. And if you have any additional questions or would like to see insights from the country-specific evaluations, contact our cyber experts or your Munich Re Client Manager.