Latvia's cybersecurity insurance sector has seen notable growth in 2026, with over 15,000 policies issued, reflecting increased awareness among businesses about cyber risks. The average insured amount has risen to €250,000, indicating higher confidence and more comprehensive coverage. The total market value now stands at €3.8 million, driven by digital transformation and rising cyberattack frequencies. SMEs are increasingly adopting insurance, with 42% coverage, a sign of expanding cyber resilience efforts.
Despite the growth, Latvia continues to face cyber threats, with over 1,200 incidents reported this year. The rising number of cyberattacks underscores the importance of robust cybersecurity measures and insurance policies. As the digital economy expands, Latvian businesses are expected to invest more in cyber risk mitigation, fostering a safer digital environment. Continued government and industry collaboration will be crucial for managing these risks effectively.