08 May The Best Cyberinsurance Companies in the U.K.
This week in cybersecurity from the editors at Cybercrime Magazine
–Read the full story in Insurance Business Magazine
Sausalito, Calif. – May 8, 2025
Cybercrime is rising globally, with 2025 costs estimated to dwarf amounts recorded in previous years.
Highlighting the scale of the problem is Steve Morgan, founder of Cybersecurity Ventures and editor-in-chief at Cybercrime Magazine. “We expect global cybercrime damage costs to reach $10.5 trillion USD annually in 2025, up from 3 trillion in 2015,” he says.
AI contributed to the problem, and now to the solution, Morgan emphasizes. “AI is definitely a double-edged sword, but a few years ago it was a single-edged sword and cybercriminals had the upper hand. It’s a level playing field now,” he says.
Insurance Business Magazine recently selected the best cyberinsurance companies in the U.K. To select the “5-Star Cyber 2025“, the publisher enlisted some of the industry’s top experts.
The following award winning insurers provide policies that help protect U.K. organizations against cybercrime: Travelers; Brit Insurance; Aviva, Beazley; CFC; Chubb; Coalition; Cowbell; Dual; MPR Underwriting; Munich Re Specialty; Pen Underwriting; and QBE.
Insurance Business Magazine notes the U.K. cyberinsurance market was forecasted to reach $1.35 billion in 2024, while increasing at a compound annual growth rate (CAGR) of 13.4 percent to reach $2.53 billion by 2029.
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