Assessing cyber risks is viewed as the most-significant hurdle in offering cyber insurance, according to a GlobalData poll. Insurers need to continuously monitor and adapt to an ever-changing risk landscape, combined with adequate pricing, to be successful.
According to a poll conducted by GlobalData on Verdict Media sites in Q1 2026, which garnered over 100 responses from industry insiders, assessing cyber risks accurately remains the biggest challenge that insurers must overcome to offer cyber cover, with almost a third of respondents (32.1%) citing this. The proportion of respondents identifying risk assessment as the key hurdle is significantly higher than managing exposure to shared risks (20.2%), such as multiple clients hit by the same cyber attack, which is the next-most-prominent response.
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Unlike traditional insurance lines, underwriters cannot rely on comprehensive historical data to assess cyber risks. In addition, cyber risks are constantly evolving and are unpredictable, with hackers becoming savvier and more sophisticated in their techniques. Increasingly, AI is being used in attacks. This adds a further layer of complexity, owing to the fast-evolving nature of AI, with many insurers now adding AI-specific exclusions.
High-profile attacks are not unheard of and are costly for insurers; raising concerns around how to price cyber cover correctly. Multiple companies could be hit in the same major event, which would lead to huge claims costs. In turn, this is linked to the difficulty of adequately assessing risks. As such, insurers typically have high premium base lines to ensure offering cyber insurance is profitable. Given the rapidly changing conditions and unpredictability of risks, insurers need to take an active approach by continuously monitoring risks and adapting to emerging threats. Better adaptability among insurers will be key in improving capacity. However, smaller insurers may just not have the ability to offer cyber insurance for now, while the appetite for this risk is variable among larger providers.
