Global Cyber Insurance Market Size, Status and Forecast 2019-2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: World Cyber Insurance Market

 Cyber-insurance is an insurance product used to protect businesses and individual users from Internet-based risks, and more generally from risks relating to information technology infrastructure and activities. Risks of this nature are typically excluded from traditional commercial general liability policies or at least are not specifically defined in traditional insurance products. Coverage provided by cyber-insurance policies may include first-party coverage against losses such as data destruction, extortion, theft, hacking, and denial of service attacks; liability coverage indemnifying companies for losses to others caused, for example, by errors and omissions, failure to safeguard data, or defamation; and other benefits including regular security-audit, post-incident public relations and investigative expenses, and criminal reward funds.With cyber-attacks becoming the norm these days, even threatening to expand into a global epidemic, cyber-risk insurers across the globe are seeing organizations and end users scramble for protection from possible data and information security disasters. North America dominates the cyber insurance market and accounts for around 89% of the overall cyber insurance market in 2016. Mandatory legislation regarding cyber security in several U.S. states has led to higher penetration of cyber liability insurance policies. Europe has very less penetration of cyber insurance liability policies as compared to that of the U.S. The European council has recently passed regulations regarding data protection and security, which are projected to be brought into effect in 2018. These regulations would oblige companies to purchase cyber insurance policies. Though Asia-Pacific accounts for negligible percentage share, it is expected to grow at a significant CAGR during the forecast period owing to a significant increase in ransomware attacks.Most cyber insurance writers have shifted their writings to standalone policies and away from packaged policies; we found that more than 67% of the $2.19 billion total direct premiums written in 2016 were on a standalone basis. Insurers view standalone policies as more efficient and effective than packaged policies.The top 3 cyber insurance writers are American International  (AIG), Chubb and XL ; these 3 companies had a combined market share of over 30 percent in 2016. The top 15 writers of cyber in this report held approximately 64 percent of the market in 2016.
In 2018, the global Cyber Insurance market size was 3901.5 million US$ and it is expected to reach 29800 million US$ by the end of 2025, with a CAGR of 33.7% during 2019-2025.This report focuses on the global Cyber Insurance status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Cyber Insurance development in United States, Europe and China

Market Segmentation, Outlook & Viewpoint: World Cyber Insurance Market

Segmentation by Product Type: Breakdown of data from the year 2014 to 2019 and forecast until 2025: Stand-alone Cyber Insurance
Packaged Cyber Insurance

Segmentation by Application: Breakdown of data from the year 2014 to 2019 and forecast until 2025: 
Financial Institutions
Retail and Wholesale
Healthcare
Business Services
Manufacturing
Technology
Others

Top Companies & Key Players: World Cyber Insurance Market

 
AIG
Chubb
XL
Beazley
Allianz
Zurich Insurance
Munich Re
Berkshire Hathaway
AON
AXIS Insurance
Lockton
CNA
Travelers
BCS Insurance
Liberty Mutual

Key Insights Covered: World Cyber Insurance Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue, and growth rate) of Cyber Insurance industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate, and gross margin) of Cyber Insurance industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue, and growth rate) of Cyber Insurance industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Cyber Insurance industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Cyber Insurance industry.

Research Methodology: Global Cyber Insurance Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.