Core Viewpoint - The rapid advancement of digital transformation is leading to an increase in cybersecurity risks for enterprises, resulting in a significant rise in demand for cybersecurity insurance, which is accelerating its market adoption [1] Group 1: Pilot Program and Market Impact - The Ministry of Industry and Information Technology (MIIT) has successfully completed the first batch of cybersecurity insurance service pilot programs, with plans for a second batch focusing on key industries such as telecommunications, internet, industrial, and financial sectors [2][4] - During the first pilot phase, over 1,500 insurance policies were issued, with a total premium exceeding 150 million yuan and total coverage nearing 11.5 billion yuan, demonstrating the effectiveness of insurance services in supporting the real economy [3][4] Group 2: Industry Needs and Challenges - Large enterprises are increasingly adopting cybersecurity insurance to enhance their risk management systems, while small and medium-sized enterprises (SMEs) face challenges due to a lack of expertise and resources, making cybersecurity insurance a valuable tool for them [3] - The MIIT aims to improve public awareness of cybersecurity insurance, as many enterprises are still unaware or do not understand how to utilize these services [4][5] Group 3: Future Development and Standards - The MIIT plans to enhance the quality and scope of cybersecurity insurance services by promoting awareness, strengthening technical support, and fostering a collaborative ecosystem involving insurance companies, cybersecurity firms, and other stakeholders [4][5] - There is a focus on developing a standard framework for cybersecurity insurance services, emphasizing risk analysis, threat monitoring, and the establishment of standardized processes to ensure healthy development of the industry [5]

近年来，随着数字经济快速发展，网络安全风险与挑战日益严峻。来自工业和信息化部的最新数据显示，我 国首批次网络安全保险服务试点工作已圆满完成，面向企业累计落地保单数量超1500个，总保费规模超1.5亿 元，总保额近115亿元，网络安全保险服务市场展现广阔前景；面向居民，累计落地反诈险保单超200万单， 总保费超2400万元，保额超1000亿元。 网络安全保险是网络安全和金融服务的创新融合，作为承保网络安全风险的新险种、网络安全服务的新模 式，有利于行业企业提升网络安全风险应对能力，促进中小企业数字化转型发展，推进构建网络安全社会化 服务体系，促进网络安全产业高质量发展。 2023年7月，工业和信息化部与国家金融监督管理总局联合印发了《关于促进网络安全保险规范健康发展的意 见》，并于同年12月发布通知启动网络安全保险服务试点工作。 在试点期间，工信部发布《网络安全保险典型服务方案目录》，遴选具备实践经验和应用潜力的49款网络安 全保险典型服务方案并予以推广。13个地方主管部门，34家网络安全保险服务机构，21家行业企业共计68家 单位以该目录为基础，积极开展试点。 国家工业信息安全发展研究中心主任蒋艳表示，网络安 ...

Core Insights - The first batch of cybersecurity insurance pilot programs in China has been successfully completed, with over 1,500 policies issued for enterprises, totaling more than 150 million yuan in premiums and nearly 11.5 billion yuan in coverage. For residents, over 2 million anti-fraud insurance policies were issued, with premiums exceeding 2.4 million yuan and coverage surpassing 100 billion yuan [1][4] Group 1: Market Overview - The global cybersecurity insurance market is projected to reach $15.3 billion by 2024, which is less than 1% of the total global property and casualty insurance premiums for that year. However, it is expected to more than double by 2030, with an average annual growth rate exceeding 10% [1] - Cybersecurity incidents are increasingly frequent due to interconnected global supply chains, geopolitical conflicts, and complex cyberattack methods, leading to a shift from traditional risk transfer tools to comprehensive risk management solutions [2] Group 2: Claims and Challenges - Claims for cybersecurity insurance are more complex compared to traditional property and liability insurance, as cyberattacks can lead to business interruption losses, legal disputes, data recovery, and privacy infringement liabilities, resulting in potentially exponential increases in payout amounts [3] - The rapid development of generative AI has heightened the risks associated with cyberattacks, with ransomware attacks forming a complete black market chain that includes subscription-based malware and AI-driven automated attack packages [3] Group 3: Regulatory Support and Product Development - The Chinese government has increased support for cybersecurity insurance, with initiatives launched in July 2023 to promote the healthy development of the market. By the end of 2024, 53 insurance companies had registered 341 cybersecurity insurance products, with 56 new products introduced in 2024 [4] - Innovative products have emerged, such as coverage for software supply chain liabilities and system defects, indicating a growing diversity in the types of cybersecurity insurance available [4] Group 4: Market Challenges - The cybersecurity insurance market in China is still in its early stages, facing challenges such as a lack of awareness among enterprises regarding the benefits of cybersecurity insurance, which affects their willingness to purchase and renew policies [5] - The industry also faces challenges on the supply side, including data scarcity, difficulties in risk quantification, limited product offerings, unclear policy terms, and the need for better collaboration within the industry [5]