Report Detail
Global Cyber Insurance Market Size, Status and Forecast 2019-2025
- RnM2946126 |
- 14 February, 2019 |
- Global |
- 107 Pages |
- QYResearch |
- Service & Software
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 $2.19 billion total direct premiums written in 2016 were on a standalone basis. Insurers view standalone policies as more efficient and effective than packaged policies.
The top 3 cyber insurance writers are American International Group (AIG), Chubb and XL Group; these 3 companies had a combined market share of over 30 percent in 2016. The top 15 writers of cyber in this report held approximately 64 percent of the market in 2016.
In 2018, the global Cyber Insurance market size was 2920 million US$ and it is expected to reach 29800 million US$ by the end of 2025, with a CAGR of 33.7% 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.
The key players covered in this study
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 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
Healthcare
Business Services
Manufacturing
Technology
Others
Market segment by Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India
Central & South America
The study objectives of this report are:
To analyze global Cyber Insurance status, future forecast, growth opportunity, key market and key players.
To present the Cyber Insurance development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
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
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.
Table of Contents
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 (2014-2025)
- 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 (2014-2025)
- 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 (2014-2025)
- 2.2.2 Cyber Insurance Market Share by Regions (2014-2019)
- 2.3 Industry Trends
- 2.3.1 Market Top Trends
- 2.3.2 Market Drivers
- 2.3.3 Market Opportunities
3 Market Share by Key Players
- 3.1 Cyber Insurance Market Size by Manufacturers
- 3.1.1 Global Cyber Insurance Revenue by Manufacturers (2014-2019)
- 3.1.2 Global Cyber Insurance Revenue Market Share by Manufacturers (2014-2019)
- 3.1.3 Global Cyber Insurance Market Concentration Ratio (CR5 and HHI)
- 3.2 Cyber Insurance Key Players Head office and Area Served
- 3.3 Key Players Cyber Insurance Product/Solution/Service
- 3.4 Date of Enter into Cyber Insurance Market
- 3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Type and Application
- 4.1 Global Cyber Insurance Market Size by Type (2014-2019)
- 4.2 Global Cyber Insurance Market Size by Application (2014-2019)
5 United States
- 5.1 United States Cyber Insurance Market Size (2014-2019)
- 5.2 Cyber Insurance Key Players in United States
- 5.3 United States Cyber Insurance Market Size by Type
- 5.4 United States Cyber Insurance Market Size by Application
6 Europe
- 6.1 Europe Cyber Insurance Market Size (2014-2019)
- 6.2 Cyber Insurance Key Players in Europe
- 6.3 Europe Cyber Insurance Market Size by Type
- 6.4 Europe Cyber Insurance Market Size by Application
7 China
- 7.1 China Cyber Insurance Market Size (2014-2019)
- 7.2 Cyber Insurance Key Players in China
- 7.3 China Cyber Insurance Market Size by Type
- 7.4 China Cyber Insurance Market Size by Application
8 Japan
- 8.1 Japan Cyber Insurance Market Size (2014-2019)
- 8.2 Cyber Insurance Key Players in Japan
- 8.3 Japan Cyber Insurance Market Size by Type
- 8.4 Japan Cyber Insurance Market Size by Application
9 Southeast Asia
- 9.1 Southeast Asia Cyber Insurance Market Size (2014-2019)
- 9.2 Cyber Insurance Key Players in Southeast Asia
- 9.3 Southeast Asia Cyber Insurance Market Size by Type
- 9.4 Southeast Asia Cyber Insurance Market Size by Application
10 India
- 10.1 India Cyber Insurance Market Size (2014-2019)
- 10.2 Cyber Insurance Key Players in India
- 10.3 India Cyber Insurance Market Size by Type
- 10.4 India Cyber Insurance Market Size by Application
11 Central & South America
- 11.1 Central & South America Cyber Insurance Market Size (2014-2019)
- 11.2 Cyber Insurance Key Players in Central & South America
- 11.3 Central & South America Cyber Insurance Market Size by Type
- 11.4 Central & South America Cyber Insurance Market Size by Application
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 (2014-2019)
- 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 (2014-2019)
- 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 (2014-2019)
- 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 (2014-2019)
- 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 (2014-2019)
- 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 (2014-2019)
- 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 (2014-2019)
- 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 (2014-2019)
- 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 (2014-2019)
- 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 (2014-2019)
- 12.10.5 AXIS Insurance Recent Development
- 12.11 Lockton
- 12.12 CNA
- 12.13 Travelers
- 12.14 BCS Insurance
- 12.15 Liberty Mutual
13 Market Forecast 2019-2025
- 13.1 Market Size Forecast by Regions
- 13.2 United States
- 13.3 Europe
- 13.4 China
- 13.5 Japan
- 13.6 Southeast Asia
- 13.7 India
- 13.8 Central & South America
- 13.9 Market Size Forecast by Product (2019-2025)
- 13.10 Market Size Forecast by Application (2019-2025)
14 Analyst's Viewpoints/Conclusions
15 Appendix
- 15.1 Research Methodology
- 15.1.1 Methodology/Research Approach
- 15.1.1.1 Research Programs/Design
- 15.1.1.2 Market Size Estimation
- 12.1.1.3 Market Breakdown and Data Triangulation
- 15.1.2 Data Source
- 15.1.2.1 Secondary Sources
- 15.1.2.2 Primary Sources
- 15.1.1 Methodology/Research Approach
- 15.2 Disclaimer
Summary:
Get latest Market Research Reports on Cyber Insurance . Industry analysis & Market Report on Cyber Insurance is a syndicated market report, published as Global Cyber Insurance Market Size, Status and Forecast 2019-2025. It is complete Research Study and Industry Analysis of Cyber Insurance market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.
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