The growing threat from hackers and computer viruses will trigger a boom in cyber crime insurance, according to one insurer. Tryg, Denmark’s largest insurer, said it expects 90% of its corporate customers to buy cyber crime coverage within five years. It’s already sold 5,000 cyber crime policies since the beginning of the year, when it launched a product to help businesses restore data and get systems running again after a cyber attack. “There are no corporate clients today that don’t have insurance on their buildings or cars, but I think that within a very few years it will be just as evident that you should insure against cyber crime,” Tryg chief executive Morten Hubbe told . According to Tryg, there was a spike in demand for cyber insurance following the “Wannacry” ransomware attack, which affected more than 300,000 computers in May. Hubbe told that he projected around 50% of Tryg’s corporate clients would buy cyber insurance by 2020, and that figure would reach 90% “a couple of years” after that. “The biggest risk to us is that significantly more customers get hit than we believe, and that gives us a huge economic loss,” he told .
In five years , nine out of 10 of its corporate insurance clients will have some from of cyber coverage , compared to Denmark 's largest insurer Tryg . The firm , which has issued 5,000 cyber coverage policies during 2017 alone , says it 's seen a spike in demand for coverage since the WannaCry cyber attacks earlier this year . It estimates by 2020 roughly half of its corporate clients will have cyber coverage , with the number increasing to 50 % a couple of years after that .