In wake of the July 2024 global IT outage, the business interruption insurance market is on pace to double over the next seven years.
The market peaked at roughly $15.2 billion in 2024 and is predicted to reach $33.61 billion by 2032 with a compound annual growth rate of 8.7% during the forecast period, according to Market Research Future.
Key market drivers include the financial impact of business interruptions, advancements in insurance technology and the increasing sophistication of risk management practices.
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Joe Toppe
Joe Toppe serves as managing editor of PropertyCasualty360.com. Joe is also a father of three, an author, and longtime lover of baseball.
