In 2018, the global Cyber Insurance market size was 2920 million US$ and it is expected to reach 29800 million US$ by the end of 2025, with a CAGR of 33.7% between 2019 and 2025.

Los Angeles, CA -- (SBWire) -- 05/02/2019 --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.

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.

In 2018, the global Cyber Insurance market size was 2920 million US$ and it is expected to reach 29800 million US$ by the end of 2025, with a CAGR of 33.7% between 2019 and 2025.

This report studies the Cyber Insurance market size by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

This report focuses on the global top players, covered
AIG
Chubb
XL Group
Beazley
Allianz
Zurich Insurance
Munich Re Group
Berkshire Hathaway
AON
AXIS Insurance
Lockton
CNA
Travelers
BCS Insurance
Liberty Mutual

Market segment by Regions/Countries, this report covers
North America
Europe
China
Rest of Asia Pacific
Central & South America
Middle East & Africa

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

Market segment by Application, the market can be split into
Financial Institutions
Retail and Wholesale
Healthcare
Business Services
Manufacturing
Technology
Others

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The study objectives of this report are:
To study and analyze the global Cyber Insurance market size (value & volume) by company, key regions/countries, products and application, history data from 2014 to 2018, and forecast to 2025.
To understand the structure of Cyber Insurance market by identifying its various subsegments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key global Cyber Insurance manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Cyber Insurance with respect to individual growth trends, future prospects, and their contribution to the total market.
To project the value and volume of Cyber Insurance submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

In this study, the years considered to estimate the market size of Cyber Insurance are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025

This report includes the estimation of market size for value (million USD) and volume (K sqm). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Cyber Insurance market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.

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For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.

Key Stakeholders
Raw material suppliers
Distributors/traders/wholesalers/suppliers
Regulatory bodies, including government agencies and NGO
Commercial research & development (R&D) institutions
Importers and exporters
Government organizations, research organizations, and consulting firms
Trade associations and industry bodies
End-use industries

Available Customizations
With the given market data, QYResearch offers customizations according to the company's specific needs. The following customization options are available for the report:
Further breakdown of Cyber Insurance market on basis of the key contributing countries.
Detailed analysis and profiling of additional market players.

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