Report overview
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.
This report aims to provide a comprehensive presentation of the global market for Cyber Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Cyber Insurance. This report contains market size and forecasts of Cyber Insurance in global, including the following market information:
Global Cyber Insurance Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global Cyber Insurance market was valued at US$ 9593.9 million in 2022 and is projected to reach US$ 68230 million by 2029, at a CAGR of 32.3% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global Cyber Insurance key players include AIG, Chubb, XL Group, Beazley, Allianz, etc. Global top five manufacturers hold a share about 35%. North America is the largest market, with a share about 90%, followed by Europe and Japan, total with a share about 8 percent. In terms of product, Stand-alone Cyber Insurance is the largest segment, with a share about 70%. And in terms of application, the largest application is Financial Institutions, followed by Retail and Wholesale, Healthcare, Business Services, Manufacturing, and Technology, etc.
We surveyed the Cyber Insurance companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Cyber Insurance Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global Cyber Insurance Market Segment Percentages, by Type, 2022 (%)
Stand-alone Cyber Insurance
Packaged Cyber Insurance
Global Cyber Insurance Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global Cyber Insurance Market Segment Percentages, by Application, 2022 (%)
Financial Institutions
Retail and Wholesale
Healthcare
Business Services
Manufacturing
Technology
Others
Global Cyber Insurance Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global Cyber Insurance Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Cyber Insurance revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Cyber Insurance revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
AIG
Chubb
XL
Beazley
Allianz
Zurich Insurance
Munich Re
Berkshire Hathaway
AON
AXIS Insurance
Lockton
CNA
Travelers
BCS Insurance
Liberty Mutual
Outline of Major Chapters:
Chapter 1: Introduces the definition of Cyber Insurance, market overview.
Chapter 2: Global Cyber Insurance market size in revenue.
Chapter 3: Detailed analysis of Cyber Insurance company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Cyber Insurance in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
