1 in 3 insurers struggle to assess cyber risk: poll

Underwriters cannot rely on historical data to assess cyber risks, said GlobalData's Beatriz Benito.

Assessing cyber risks remains a big challenge for insurers looking to offer cyber insurance, with nearly 1 in 3 (32.1%) citing this, according to a survey by GlobalData.

The survey, conducted in Verdict Media sites in Q1 2026, also saw 20.2% of 109 respondents identify managing exposure to shared risks as a top challenge to offering cyber insurance.

Unlike traditional insurance lines, underwriters cannot rely on comprehensive historic data to assess cyber risks, said Beatriz Benito, lead insurance analyst at GlobalData.

The evolution of cyber risks—particularly due to the rising use of AI in attacks—makes things more complicated for insurers, Benito said.

“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,” Benito said.

High profile attacks can be costly for insurers and raises the question around how to correctly price cyber cover. Multiple companies could be hit in the same major event, leading to huge claims costs, GlobalData said.

Better adaptability amongst insurers will be key in improving capacity, Benito said.

“However, smaller insurers may just not yet have the ability to offer cyber insurance, while appetite for this risk varies among larger providers,” Benito said.