Global Cyber Insurance Market Report 2018: Analysis & Forecasts (2013-2023) by Enterprise Size, Service and Industry Vertical - ResearchAndMarkets.com

DUBLIN--()--The "Cyber Insurance Market by Enterprise Size (Large Enterprise, Small and Medium Enterprise), by Service, by Industry Vertical, by Geography - Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.

Loss of brand reputation from cyber-attacks has been cited as a primary reason by most of the industry leaders for the mainstream adoption of cyber insurance programs in their operations. Since the persistent threat of cyber-crime continues to rise globally, the trend of intrusion of unauthorized access entities into critical data and illegitimate access to private and confidential business information also rises. This has led to huge loss of enterprise value, which is expected to continue over a period of time. Thus, with this loss getting huge day by day, the adoption of cyber insurance is predicted to escalate in the years to come.

The cyber insurance market is categorized on the basis of enterprise size, service, and industry. Large enterprises led the cyber insurance market in terms of size, due to their high purchasing power and the availability of sufficient funds for risk insurance. Since the premiums for cyber insurance are very high, SMEs refrain to buy expensive covers because of their limited budget constrains over cyber risk management.

Competitors in the cyber insurance market are investing in new product launches to cater to the larger market and expand their offerings globally. For instance, XL Catlin, part of XL Group, in July 2017, announced the launch of its cyber and data protection insurance policy in Asia-Pacific. The new policy designed by the company aims to protect businesses from the threats they face from a malicious network and breach of data.

Market Dynamics

Trends

  • Increase in denial of service attacks
  • Malicious code threatens enterprise security

Drivers

  • Supply chain cyber risk
  • Increasing criminalization of the internet
  • Mandatory legislation regarding cyber security
  • Recent implications of WannaCry cyber attack
  • Impact analysis of drivers on market forecast

Restraints

  • Lack of education in terms of business understanding
  • Continuous evolution of technology
  • Impact analysis of restraints on market forecast

Opportunities

  • Good deals for SMEs
  • Growing demand in Europe and Asia-Pacific

Key Topics Covered:

Chapter 1. Research Background

Chapter 2. Research Methodology

Chapter 3. Executive Summary

Chapter 4. Introduction

Chapter 5. Market Size and Forecast by Enterprise Size

Chapter 6. Market Size and Forecast by Service

Chapter 7. Market Size and Forecast by Industry

Chapter 8. Market Size and Forecast by Geography

Chapter 9. Competitive Landscape

Chapter 10. Company Profiles

  • Allianz Global Corporate & Specialty SE
  • American International Group, Inc.
  • Aon Plc
  • Berkshire Hathaway Inc.
  • Chubb Limited
  • Lloyd's
  • Lockton Companies Inc.
  • Munich Re Group
  • XL Group Ltd
  • Zurich Insurance Group AG

For more information about this report visit https://www.researchandmarkets.com/research/sxqm67/global_cyber?w=4

Contacts

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Related Topics: Insurance

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Insurance