In 2026, Iceland's cybersecurity insurance sector has seen substantial growth, with over 12,500 policies issued, reflecting increased awareness among businesses of cyber risks. The average coverage per policy has risen to €350,000, indicating enhanced risk mitigation strategies. The market value exceeds €437 million, driven by digital transformation across various sectors. The annual policy growth rate of 15% underscores the rising importance of cybersecurity insurance in Iceland's digital economy.
The average premium per policy has increased to €2,100, aligning with the broader trend of higher coverage and risk awareness. Small and medium enterprises constitute the largest share of policyholders, emphasizing their vulnerability to cyber threats. As cyberattacks become more sophisticated, Iceland's cybersecurity insurance market is expected to continue expanding, emphasizing the need for comprehensive risk management and proactive cybersecurity measures.