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Insurance policies against online fraud, cyberattacks and hacking offer insurers a major field for expansion, as in the numerous incidents of cyberattacks or breaches of personal data recorded every year, the target is not only small or large businesses, such as banks, telecommunications or courier companies, but also ordinary people.
The resilience of a company in cyberspace and its shielding should not be considered a purely technical issue that concerns only the IT department of a company: As the head of the cyber risks working group of the Hellenic Association of Insurance Companies (EAEE), Kostas Voulgaris, explains, “it must be part of the overall crisis management and response planning for the entire life cycle of a company and insurance against cyber risks is a valuable tool for a company.”
Insurance solutions also exist for personal cyber insurance, as the rapid digitalization of our daily lives, electronic transactions, online shopping, engagement with social media and the use of the cloud create a new range of personal risks, such as online fraud.
EAEE data last week showed that the “awakening” of individuals and businesses has increased exponentially in recent years and cybersecurity insurance policies have reached 398,000 by the end of 2025, compared to just 32,000 in 2022. Of these, 395,200 are personal cyber insurance policies and 2,758 are commercial cyber insurance policies. Last year there were 32 incidents of insured businesses declaring a cyberattack, while another 75 incidents were declared by individuals.
On the corporate side, Greece found itself amid intense and systematic digital pressure in 2025, with an emphasis, according to analyses, on small and medium-sized enterprises. Although there is no aggregated data, cyberattacks on companies and agencies like Hellenic Post, the Fourlis Group, Cosmote and the National Cadastre have occurred. The CyberX Fraud Statistics Report 2025 demonstrates that electronic fraud has evolved into a systemic digital risk for Greece.
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