The Abi

In 2024, there was a 17% increase in the number of cyber insurance policies taken out by UK businesses compared to the previous year.

In 2024, £197 million was paid out to UK businesses to help them recover from cyber incidents.

Malware and ransomware accounted for 51% of all cyber insurance claims in 2024, up from 32% in 2023.

There was a 230% year-on-year increase in the amount paid out to support UK businesses with cyber-attacks in 2024, amounting to £138 million more than in 2023.