The Challenges of Cyber-Insurance: The Case of Greece

The cyber-insurance market has undergone a significant transformation in response to the rapidly evolving digital threat landscape. At the same time, various barriers and enablers are shaping the pace of adoption across different regions, particularly between the countries of the European Union (EU). This research aims to describe the cyber-insurance market of Greece, identify the main challenges and policy implications towards its uptake. In doing so, we performed a qualitative research through a focus group (FG) with insurance experts. Our findings indicate that the most important factor for the market’s slow uptake is the lack of maturity in identifying and assessing cyber risks among businesses. This finding mainly stems from the lack of culture, along with the shortage of cyber experts and the level of national regulatory readiness. Based on the findings, national-specific policy impications are identified.