Barbados has seen a notable increase in cybersecurity insurance adoption, with nearly half of local businesses now insured against cyber threats in 2026. The total premiums collected have reached approximately $12 million USD, reflecting growing awareness of cyber risks and the importance of insurance coverage. Smaller enterprises primarily purchase policies averaging around $2,500 USD, tailored to their specific needs.
Despite increased insurance coverage, Barbados still faces around 1,200 reported cyber incidents annually, with average losses of $25,000 USD per event. This highlights the ongoing need for enhanced cybersecurity measures. The rising trend indicates that local organizations are investing more in risk mitigation, but continuous education and stronger security protocols are essential for further progress.