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
15.2 Disclaimer
15.3 Author Details
List of Tables and Figures
Table Cyber Insurance Key Market Segments
Table Key Players Cyber Insurance Covered
Table Global Cyber Insurance Market Size Growth Rate by Type 2014-2025 (Million US$)
Figure Global Cyber Insurance Market Size Market Share by Type 2014-2025
Figure Stand-alone Cyber Insurance Figures
Table Key Players of Stand-alone Cyber Insurance
Figure Packaged Cyber Insurance Figures
Table Key Players of Packaged Cyber Insurance
Table Global Cyber Insurance Market Size Growth by Application 2014-2025 (Million US$)
Figure Financial Institutions Case Studies
Figure Retail and Wholesale Case Studies
Figure Healthcare Case Studies
Figure Business Services Case Studies
Figure Manufacturing Case Studies
Figure Technology Case Studies
Figure Others Case Studies
Figure Cyber Insurance Report Years Considered
Table Global Cyber Insurance Market Size 2014-2025 (Million US$)
Figure Global Cyber Insurance Market Size and Growth Rate 2014-2025 (Million US$)
Table Global Cyber Insurance Market Size by Regions 2014-2025 (Million US$)
Table Global Cyber Insurance Market Size by Regions 2014-2019 (Million US$)
Table Global Cyber Insurance Market Share by Regions 2014-2019
Figure Global Cyber Insurance Market Share by Regions 2014-2019
Figure Global Cyber Insurance Market Share by Regions 2019
Table Market Top Trends
Table Global Cyber Insurance Revenue by Manufacturers (2014-2019) (Million US$)
Table Global Cyber Insurance Market Share by Manufacturers (2014-2019)
Figure Global Cyber Insurance Market Share by Manufacturers in 2018
Table Global Cyber Insurance Manufacturers Market Concentration Ratio (CR5 and HHI)
Table Key Players Head office and Area Served
Table Key Players Cyber Insurance Product/Solution/Service
Table Date of Enter into Cyber Insurance Market
Table Mergers & Acquisitions, Expansion Plans
Table Global Cyber Insurance Market Size by Type (2014-2019) (Million US$)
Table Global Cyber Insurance Market Size Share by Type (2014-2019)
Figure Global Cyber Insurance Market Size Market Share by Type (2014-2019)
Table Global Cyber Insurance Market Size by Application (2014-2019) (Million US$)
Table Global Cyber Insurance Market Size Share by Application (2014-2019)
Figure Global Cyber Insurance Market Size Market Share by Application (2014-2019)
Figure Global Cyber Insurance Revenue Market Share by Application in 2018
Figure United States Cyber Insurance Market Size 2014-2019 (Million US$)
Table United States Key Players Cyber Insurance Revenue (2018-2019) (Million US$)
Table United States Key Players Cyber Insurance Market Share (2018-2019)
Table United States Cyber Insurance Market Size by Type (2014-2019) (Million US$)
Table United States Cyber Insurance Market Share by Type (2014-2019)
Table United States Cyber Insurance Market Size by Application (2014-2019) (Million US$)
Table United States Cyber Insurance Market Share by Application (2014-2019)
Figure Europe Cyber Insurance Market Size 2014-2019 (Million US$)
Table Europe Key Players Cyber Insurance Revenue (2018-2019) (Million US$)
Table Europe Key Players Cyber Insurance Market Share (2018-2019)
Table Europe Cyber Insurance Market Size by Type (2014-2019) (Million US$)
Table Europe Cyber Insurance Market Share by Type (2014-2019)
Table Europe Cyber Insurance Market Size by Application (2014-2019) (Million US$)
Table Europe Cyber Insurance Market Share by Application (2014-2019)
Figure China Cyber Insurance Market Size 2014-2019 (Million US$)
Table China Key Players Cyber Insurance Revenue (2018-2019) (Million US$)
Table China Key Players Cyber Insurance Market Share (2018-2019)
Table China Cyber Insurance Market Size by Type (2014-20189) (Million US$)
Table China Cyber Insurance Market Share by Type (2014-2019)
Table China Cyber Insurance Market Size by Application (2014-2019) (Million US$)
Table China Cyber Insurance Market Share by Application (2014-2019)
Figure Japan Cyber Insurance Market Size 2014-2019 (Million US$)
Table Japan Key Players Cyber Insurance Revenue (2018-2019) (Million US$)
Table Japan Key Players Cyber Insurance Market Share (2018-2019)
Table Japan Cyber Insurance Market Size by Type (2014-2019) (Million US$)
Table Japan Cyber Insurance Market Share by Type (2014-2019)
Table Japan Cyber Insurance Market Size by Application (2014-2019) (Million US$)
Table Japan Cyber Insurance Market Share by Application (2014-2019)
Figure Southeast Asia Cyber Insurance Market Size 2014-2019 (Million US$)
Table Southeast Asia Key Players Cyber Insurance Revenue (2018-2019) (Million US$)
Table Southeast Asia Key Players Cyber Insurance Market Share (2018-2019)
Table Southeast Asia Cyber Insurance Market Size by Type (2014-2019) (Million US$)
Table Southeast Asia Cyber Insurance Market Share by Type (2014-2019)
Table Southeast Asia Cyber Insurance Market Size by Application (2014-2019) (Million US$)
Table Southeast Asia Cyber Insurance Market Share by Application (2014-2019)
Figure India Cyber Insurance Market Size 2014-2019 (Million US$)
Table India Key Players Cyber Insurance Revenue (2018-2019) (Million US$)
Table India Key Players Cyber Insurance Market Share (2018-2019)
Table India Cyber Insurance Market Size by Type (2014-2019) (Million US$)
Table India Cyber Insurance Market Share by Type (2014-2019)
Table India Cyber Insurance Market Size by Application (2014-2019) (Million US$)
Table India Cyber Insurance Market Share by Application (2014-2019)
Figure Central & South America Cyber Insurance Market Size 2014-2019 (Million US$)
Table Central & South America Key Players Cyber Insurance Revenue (2018-2019) (Million US$)
Table Central & South America Key Players Cyber Insurance Market Share (2018-2019)
Table Central & South America Cyber Insurance Market Size by Type (2014-2019) (Million US$)
Table Central & South America Cyber Insurance Market Share by Type (2014-2019)
Table Central & South America Cyber Insurance Market Size by Application (2014-2019) (Million US$)
Table Central & South America Cyber Insurance Market Share by Application (2014-2019)
Table AIG Company Details
Table AIG Revenue in Cyber Insurance Business (2014-2019) (Million US$)
Figure AIG Revenue Growth Rate in Cyber Insurance Business (2014-2019)
Table AIG Recent Development
Table Chubb Company Details
Table Chubb Revenue in Cyber Insurance Business (2014-2019)(Million US$)
Figure Chubb Revenue Growth Rate in Cyber Insurance Business (2014-2019)
Table Chubb Recent Development
Table XL Group Company Details
Table XL Group Revenue in Cyber Insurance Business (2014-2019)(Million US$)
Figure XL Group Revenue Growth Rate in Cyber Insurance Business (2014-2019)
Table XL Group Recent Development
Table Beazley Company Details
Table Beazley Revenue in Cyber Insurance Business (2014-2019)(Million US$)
Figure Beazley Revenue Growth Rate in Cyber Insurance Business (2014-2019)
Table Beazley Recent Development
Table Allianz Company Details
Table Allianz Revenue in Cyber Insurance Business (2014-2019)(Million US$)
Figure Allianz Revenue Growth Rate in Cyber Insurance Business (2014-2019)
Table Allianz Recent Development
Table Zurich Insurance Company Details
Table Zurich Insurance Revenue in Cyber Insurance Business (2014-2019)(Million US$)
Figure Zurich Insurance Revenue Growth Rate in Cyber Insurance Business (2014-2019)
Table Zurich Insurance Recent Development
Table Munich Re Group Company Details
Table Munich Re Group Revenue in Cyber Insurance Business (2014-2019)(Million US$)
Figure Munich Re Group Revenue Growth Rate in Cyber Insurance Business (2014-2019)
Table Munich Re Group Recent Development
Table Berkshire Hathaway Company Details
Table Berkshire Hathaway Revenue in Cyber Insurance Business (2014-2019)(Million US$)
Figure Berkshire Hathaway Revenue Growth Rate in Cyber Insurance Business (2014-2019)
Table Berkshire Hathaway Recent Development
Table AON Company Details
Table AON Revenue in Cyber Insurance Business (2014-2019)(Million US$)
Figure AON Revenue Growth Rate in Cyber Insurance Business (2014-2019)
Table AON Recent Development
Table AXIS Insurance Company Details
Table AXIS Insurance Revenue in Cyber Insurance Business (2014-2019)(Million US$)
Figure AXIS Insurance Revenue Growth Rate in Cyber Insurance Business (2014-2019)
Table AXIS Insurance Recent Development
Table Lockton Company Details
Table CNA Company Details
Table Travelers Company Details
Table BCS Insurance Company Details
Table Liberty Mutual Company Details
Table Global Cyber Insurance Market Size by Regions (Million US$) 2019-2025
Figure Global Cyber Insurance Market Size Share by Regions (2019-2025)
Figure Global Cyber Insurance Market Size Share by Regions in 2025
Figure United States Cyber Insurance Market Size Forecast (2019-2025)(Million USD)
Figure Europe Cyber Insurance Market Size Forecast (2019-2025)(Million USD)
Figure China Cyber Insurance Market Size Forecast (2019-2025)(Million USD)
Figure Japan Cyber Insurance Market Size Forecast (2019-2025)(Million USD)
Figure Southeast Asia Cyber Insurance Market Size Forecast (2019-2025)(Million USD)
Figure India Cyber Insurance Market Size Forecast (2019-2025)(Million USD)
Figure Central & South America Cyber Insurance Market Size Forecast (2019-2025)(Million USD)
Table Global Cyber Insurance Market Size by Product (2019-2025) (Million US$)
Figure Global Cyber Insurance Market Size by Product (2019-2025)
Figure Global Cyber Insurance Market Size by Product in 2025
Table Global Cyber Insurance Market Size by Application (2019-2025) (Million US$)
Figure Global Cyber Insurance Market Size by Application (2019-2025)
Figure Global Cyber Insurance Market Size by Application in 2025
Table Research Programs/Design for This Report
Figure Bottom-up and Top-down Approaches for This Report
Figure Data Triangulation
Table Key Data Information from Secondary Sources
Table Key Data Information from Primary Sources
