Dallas, TX -- (SBWIRE) -- 03/06/2019 -- Global Cyber Insurance Market Research Report Forecast from 2019 to 2024
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.

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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.

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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.

Segmentation by Product Type
Stand-alone Cyber Insurance
Packaged Cyber Insurance

Segmentation by Application
Financial Institutions
Retail and Wholesale
Healthcare
Business Services
Manufacturing
Technology
Others

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The Key Manufacturers covered in this report: AIG, Chubb, XL Group, Beazley, Allianz, Zurich Insurance, Munich Re Group, Berkshire Hathaway, AON, AXIS Insurance, Lockton, CNA, Travelers, BCS Insurance, Liberty Mutual..

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Some Major TOC Points:
Global Cyber Insurance Market Report (Status and Outlook) 2019
1 Scope of the Report
1.1 Market Introduction
1.2 Research Objectives
1.3 Years Considered
1.4 Market Research Methodology
1.5 Economic Indicators
1.6 Currency Considered

2 Executive Summary
2.1 World Market Overview
2.2 Cyber Insurance Segment by Type
2.3 Cyber Insurance Market Size by Type
2.4 Cyber Insurance Segment by Application
2.5 Cyber Insurance Market Size by Application

3 Global Cyber Insurance by Players
3.1 Global Cyber Insurance Market Size Market Share by Players
3.2 Global Cyber Insurance Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion

4 Cyber Insurance by Regions

5 Americas
5.1 Americas Cyber Insurance Market Size by Countries
5.2 Americas Cyber Insurance Market Size by Type
5.3 Americas Cyber Insurance Market Size by Application
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Key Economic Indicators of Few Americas Countries

6 APAC
6.1 APAC Cyber Insurance Market Size by Countries
6.2 APAC Cyber Insurance Market Size by Type
6.3 APAC Cyber Insurance Market Size by Application
6.4 China
6.5 Japan
6.6 Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 Key Economic Indicators of Few APAC Countries

7 Europe
7.1 Europe Cyber Insurance by Countries
7.2 Europe Cyber Insurance Market Size by Type
7.3 Europe Cyber Insurance Market Size by Application
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
7.9 Spain
7.10 Key Economic Indicators of Few Europe Countries

8 Middle East & Africa
8.1 Middle East & Africa Cyber Insurance by Countries
8.2 Middle East & Africa Cyber Insurance Market Size by Type
8.3 Middle East & Africa Cyber Insurance Market Size by Application
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries

9 Market Drivers, Challenges and Trends
9.1 Market Drivers and Impact
9.2 Market Challenges and Impact
9.3 Market Trends
.
..

11 Key Players Analysis
11.1 AIG
11.2 Chubb
11.3 XL Group
11.4 Beazley
11.5 Allianz
11.6 Zurich Insurance
11.7 Munich Re Group
11.8 Berkshire Hathaway
11.9 AON
11.10 AXIS Insurance
11.11 Lockton
11.12 CNA
11.13 Travelers
11.14 BCS Insurance
11.15 Liberty Mutual

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