Cyber Insurance Market to grow at 33.7% CAGR and Expected to reach USD 29800 Million by 2023 | Top International Brands are AIG, Chubb, XL Group, Beazley, Allianz, Berkshire Hathaway, AON

The exclusive research report on the Global Cyber Insurance Market 2019 examines the market in detail along with focusing on significant market dynamics for the key players operating in the market. Global Cyber Insurance Industry research report offers granulated yet in-depth analysis of revenue share, market segments, revenue estimates and various regions across the globe.

Global Cyber Insurance Market Overview:

The report spread across 90 pages is an overview of the Global Cyber Insurance Market Report 2019. The Global Cyber Insurance Market is projected to grow at a healthy growth rate from 2019 to 2023 according to new research. The study focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies.

The Global Cyber Insurance Market size was 2920 Million US$ in 2018 and it is expected to reach 29800 Million US$ by the end of 2023, with a CAGR of 33.7% during 2019 - 2023.

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According to the market report analysis, the 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. 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 terms of the regional analysis, 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 2019. These regulations would oblige companies to purchase cyber insurance policies. Though APAC 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.

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Major Key Players:

1 AIG

2 Chubb

3 XL Group

4 Beazley

5 Allianz

6 Zurich Insurance

7 Munich Re Group

8 Berkshire Hathaway

9 AON

10 AXIS Insurance and More……………..

Market segment by Regions/Countries, this report covers

1 North America Country (United States, Canada)

2 South America

3 Asia Country (China, Japan, India, Korea)

4 Europe Country (Germany, UK, France, Italy)

5 Other Country (Middle East, Africa, GCC)

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Major Points in Table of Contents:

Global Cyber Insurance Market Report 2019

1 Cyber Insurance Product Definition

2 Global Cyber Insurance Market Manufacturer Share and Market Overview

3 Manufacturer Cyber Insurance Business Introduction

4 Global Cyber Insurance Market Segmentation (Region Level)

5 Global Cyber Insurance Market Segmentation (Product Type Level)

6 Global Cyber Insurance Market Segmentation (Industry Level)

7 Global Cyber Insurance Market Segmentation (Channel Level)

8 Cyber Insurance Market Forecast 2019-2023

9 Cyber Insurance Segmentation Product Type

10 Cyber Insurance Segmentation Industry

11 Cyber Insurance Cost of Production Analysis

12 Conclusion

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