Press Release
Canada Cyber Insurance Market to Exceed USD 1.2 Billion by 2032
Pune, November 27, 2025 – The Canada cyber insurance market is witnessing robust growth, poised to surpass USD 510 million in 2024 and projected to reach nearly USD 1,210 million by 2032. This rapid expansion underscores the heightened urgency for cyber risk mitigation solutions amid an escalating wave of cyberattacks targeting businesses and public institutions across the country.
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The Canadian cyber insurance sector is expected to grow at a compound annual growth rate (CAGR) of approximately 16.6% between 2026 and 2032, driven by rising incidences of ransomware, data breaches, and phishing attacks. The market is further bolstered by increasing digital transformation across BFSI, healthcare, government, and IT sectors, with both large enterprises and SMEs actively investing in cyber liability protection.
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Key market segmentation includes:
By Coverage Type
• First-Party Coverage
• Third-Party Coverage
By Policy Type
• Standalone Cyber Insurance
• Bundled Cyber Insurance (as part of broader policies)
By Organization Size
• Small and Medium Enterprises (SMEs)
• Large Enterprises
By End User Industry
• BFSI (Banking, Financial Services, and Insurance)
• Healthcare
• IT and Telecom
• Government and Public Sector
• Retail and E-commerce
• Manufacturing
• Others
By Region – Global
• North America (United States, Canada)
• Europe (United Kingdom, Germany, France, Rest of Europe)
• Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, South Africa, Rest of MEA)
Key Players in the Canada Cyber Insurance Market
• Chubb Limited
• AIG (American International Group, Inc.)
• Allianz SE
• AXA XL
• Zurich Insurance Group
• Beazley PLC
• CNA Financial Corporation
• Hiscox Ltd.
• Travelers Companies, Inc.
• Tokio Marine Holdings, Inc.
• Lloyd’s of London
• The Hartford Financial Services Group, Inc.
• Liberty Mutual Insurance
• Berkshire Hathaway Inc.
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About the company
Global Data Route Analytics is a market research and consulting firm that provides businesses with data analysis, market forecasts, and tailored reports across various industries. The company uses advanced data analysis techniques, proprietary data, and an expert team to help clients understand market trends, make informed decisions, and develop strategies. They focus on delivering customized solutions, competitive intelligence, and growth strategies to help businesses succeed in their respective markets.
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Global Data Route Analytics
