Cyber Insurance Global Market 2019, Industry Analysis, Growth Trends, Opportunity and Forecast To 2024

September 07 22:46 2019
Cyber Insurance Market adds “Cyber Insurance Market 2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database

Summary adds “Cyber Insurance Market 2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database.

This report provides in depth study of “Cyber Insurance Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Cyber Insurance Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.

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.

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 Group (AIG), Chubb and XL Group; 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.

The key players covered in this study 
XL Group 
Zurich Insurance 
Munich Re Group 
Berkshire Hathaway 
AXIS Insurance 
BCS Insurance 
Liberty Mutual

Market segment by Type, the product can be split into 
Stand-alone Cyber Insurance 
Packaged Cyber Insurance

Market segment by Application, split into 
Financial Institutions 
Retail and Wholesale 
Business Services 

Market segment by Regions/Countries, this report covers 
United States 
Southeast Asia 
Central & South America

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Major Key Points in Table of Content

1 Report Overview 
1.1 Study Scope 
1.2 Key Market Segments 
1.3 Players Covered 
1.4 Market Analysis by Type 
1.4.1 Global Cyber Insurance Market Size Growth Rate by Type (2013-2025) 
1.4.2 Stand-alone Cyber Insurance 
1.4.3 Packaged Cyber Insurance 
1.5 Market by Application 
1.5.1 Global Cyber Insurance Market Share by Application (2013-2025) 
1.5.2 Financial Institutions 
1.5.3 Retail and Wholesale 
1.5.4 Healthcare 
1.5.5 Business Services 
1.5.6 Manufacturing 
1.5.7 Technology 
1.5.8 Others 
1.6 Study Objectives 
1.7 Years Considered

2 Global Growth Trends 
2.1 Cyber Insurance Market Size 
2.2 Cyber Insurance Growth Trends by Regions 
2.2.1 Cyber Insurance Market Size by Regions (2013-2025) 
2.2.2 Cyber Insurance Market Share by Regions (2013-2018) 
2.3 Industry Trends 
2.3.1 Market Top Trends 
2.3.2 Market Drivers 
2.3.3 Market Opportunities


12 International Players Profiles 
12.1 AIG 
12.1.1 AIG Company Details 
12.1.2 Company Description and Business Overview 
12.1.3 Cyber Insurance Introduction 
12.1.4 AIG Revenue in Cyber Insurance Business (2013-2018) 
12.1.5 AIG Recent Development 
12.2 Chubb 
12.2.1 Chubb Company Details 
12.2.2 Company Description and Business Overview 
12.2.3 Cyber Insurance Introduction 
12.2.4 Chubb Revenue in Cyber Insurance Business (2013-2018) 
12.2.5 Chubb Recent Development 
12.3 XL Group 
12.3.1 XL Group Company Details 
12.3.2 Company Description and Business Overview 
12.3.3 Cyber Insurance Introduction 
12.3.4 XL Group Revenue in Cyber Insurance Business (2013-2018) 
12.3.5 XL Group Recent Development 
12.4 Beazley 
12.4.1 Beazley Company Details 
12.4.2 Company Description and Business Overview 
12.4.3 Cyber Insurance Introduction 
12.4.4 Beazley Revenue in Cyber Insurance Business (2013-2018) 
12.4.5 Beazley Recent Development 
12.5 Allianz 
12.5.1 Allianz Company Details 
12.5.2 Company Description and Business Overview 
12.5.3 Cyber Insurance Introduction 
12.5.4 Allianz Revenue in Cyber Insurance Business (2013-2018) 
12.5.5 Allianz Recent Development 
12.6 Zurich Insurance 
12.6.1 Zurich Insurance Company Details 
12.6.2 Company Description and Business Overview 
12.6.3 Cyber Insurance Introduction 
12.6.4 Zurich Insurance Revenue in Cyber Insurance Business (2013-2018) 
12.6.5 Zurich Insurance Recent Development 
12.7 Munich Re Group 
12.7.1 Munich Re Group Company Details 
12.7.2 Company Description and Business Overview 
12.7.3 Cyber Insurance Introduction 
12.7.4 Munich Re Group Revenue in Cyber Insurance Business (2013-2018) 
12.7.5 Munich Re Group Recent Development 
12.8 Berkshire Hathaway 
12.8.1 Berkshire Hathaway Company Details 
12.8.2 Company Description and Business Overview 
12.8.3 Cyber Insurance Introduction 
12.8.4 Berkshire Hathaway Revenue in Cyber Insurance Business (2013-2018) 
12.8.5 Berkshire Hathaway Recent Development 
12.9 AON 
12.9.1 AON Company Details 
12.9.2 Company Description and Business Overview 
12.9.3 Cyber Insurance Introduction 
12.9.4 AON Revenue in Cyber Insurance Business (2013-2018) 
12.9.5 AON Recent Development 
12.10 AXIS Insurance 
12.10.1 AXIS Insurance Company Details 
12.10.2 Company Description and Business Overview 
12.10.3 Cyber Insurance Introduction 
12.10.4 AXIS Insurance Revenue in Cyber Insurance Business (2013-2018) 
12.10.5 AXIS Insurance Recent Development 
12.11 Lockton 
12.12 CNA 
12.13 Travelers 
12.14 BCS Insurance 
12.15 Liberty Mutual

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