By 2026, Andorra's cybersecurity insurance market has expanded significantly, with 35% of local businesses now insured against cyber threats. The average premium has increased to €12,000, reflecting a heightened awareness of cyber risks and the sophistication of policies. The number of claims filed indicates a rising frequency of cyber incidents, emphasizing the importance of robust cybersecurity measures for businesses.
p2”:“Despite the growing number of insured companies, only about 25% of small businesses in Andorra have cybersecurity coverage, highlighting a potential area for market growth. The increased cybersecurity budget allocation demonstrates firms' recognition of digital vulnerabilities. As cyber threats evolve, the insurance industry in Andorra is expected to adapt, offering more tailored policies to mitigate the impact of cyberattacks on the nation's economy.”,
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