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Global Cyber Risk and Insurance Survey 2024: Personal Lines
Global Cyber Risk and Insurance Survey 2024: Personal Lines
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    In a world where our digital lives are increasingly intertwined with our personal and professional activities, safeguarding personal digital security is paramount. The Munich Re Global Cyber Risk and Insurance Survey 2024 underscores the growing importance of personal cyber insurance amidst rising cyber threats. The survey, with over 7,500 respondents from 15 countries, provides a comprehensive overview of the current state of personal cybersecurity and the role of insurance in mitigating these risks.

    You can download the full report at the bottom of the page.

    Rising Cybersecurity Concerns

    The survey reveals a heightened awareness of cyber threats among individuals. Only 12% of respondents reported being unconcerned about their digital security, while a significant 53% expressed concern or extreme concern about their digital safety. This growing anxiety is a reflection of the increasing cyberattacks targeting personal digital lives, not just corporations and institutions.

    Underestimation of Personal Cyber Threats

    Despite the high level of concern, there is a notable gap in understanding how cyber insurance can enhance personal digital security. Many individuals continue to underestimate the threats that affect them and their families directly, which underscores the need for better education and awareness about cyber insurance solutions.
    Global Cyber Risk and Insurance Survey 2024: Personal Lines

    Private Cyber Insurance Adoption

    The survey highlights a slow but steady increase in the adoption of private cyber insurance. In 2024, 19% of respondents reported being offered cyber insurance for their private lives, up from 17% in 2022 and 13% in 2021. However, 42% still have no intention of purchasing such insurance, emphasizing the need for the insurance industry to enhance transparency and simplify offerings to make the benefits more apparent.

    Willingness to Invest in Cybersecurity

    Encouragingly, the financial aspect does not seem to be a major obstacle for many. Nearly one-third (31%) of surveyed individuals are willing to pay $10-$25 USD per month for cyber insurance and related services, while an equal percentage consider $5-$10 USD reasonable. This willingness to invest highlights an opportunity for insurers to close the protection gap by offering affordable and effective cyber insurance products.

    Essential Services and Features

    Respondents indicated a preference for comprehensive cyber insurance policies that include essential services such as 24/7 help hotlines, legal assistance, data restoration, and tools like firewalls and anti-malware software. These services not only help in risk transfer but also in enhancing personal cyber resiliency and preparedness.
    Global Cyber Risk and Insurance Survey 2024: Personal Lines


    The Global Cyber Risk and Insurance Survey 2024 paints a clear picture: as digital threats continue to evolve, the importance of personal cyber insurance is becoming increasingly evident. The insurance industry must continue to innovate and educate to bridge the existing gaps in understanding and adoption. By doing so, they can ensure that more individuals are adequately protected against the growing tide of cyber threats, making digital life safer for everyone.
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    Contact our experts
    Axel von dem Knesebeck
    Axel von dem Knesebeck
    Corporate Underwriting Cyber
    Martin Kreuzer
    Martin Kreuzer
    Senior Risk Manager Cyber Risks


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