New York, Oct. 21, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Cyber Insurance Market by Component, Type, Coverage, Organization Size, End User And Region – Global Forecast to 2025” – https://www.reportlinker.com/p05977659/?utm_source=GNW
• By insurance coverage, the cyber liability segment expected to hold a larger market size in 2025
Cyber risk insurance or cyber liability insurance coverage helps an organization cover the cost to recover from a data breach, virus, or other cyber-attacks.Cyber liability insurance covers expenses related to first parties and also third-party claims.
The cyber insurance policy covers some reimbursable expenses such as investigation, business losses, lawsuits and extortion, and privacy and notification.The growing sophistication of cyber-attacks and stringent regulatory mandates persuade enterprises to proactively adopt cyber insurance solutions.
Cyber liability coverage policies can assist insurers to offer first party and third part cyber coverage to prevent from the post effects of a security breach that could result in critical business losses.
Key vendors offering various types of cyber insurance solutions include Allianz Group, AIG, Chubb, Aon, Zurich, AXA, and Berkshire Hathaway, among others
APAC to register the highest growth rate during the forecast period
Asia Pacific (APAC) comprises of emerging economies, such as Australia and New Zealand, China, Singapore, and Japan, with developed security infrastructure.Machine Learning (ML), Internet of Things (IoT), big data analytics, and Artificial Intelligence (AI) are emerging methodologies that are being deployed in this region.
APAC is home to large number of established Small and Medium-sized Enterprises (SMEs), which are growing at laudable pace to cater to their large customer base.SMEs are rapidly adopting cyber insurance solutions to manage their enterprise data.
Despite the growing importance of SMEs in this region, they are most affected mostly by cyber and malware attacks owing to budgetary constraints and resource shortages.
• By Company Type: Tier 1 – 55%, Tier 2 – 27%, and Tier 3 – 18%
• By Designation: C-level – 33%, D-level – 25%, and Others – 42%
• By Region: North America – 38%, Europe – 14%, APAC – 19%, RoW – 29%
The technology vendors covered in the cyber insurance market report include BitSight (US), Prevalent (US), RedSeal (US), SecurityScorecard (US), Cyber Indemnity Solutions (Australia), Cisco (US), UpGuard (US), Microsoft (US), Check Point (US), AttackIQ (US), SentinelOne (US), Broadcom (US), Accenture (Ireland), Kenna Security (US), Cylance (US), FireEye (US), CyberArk (US), CYE (Israel), SecurIT360 (US), and Founder Shield (US).The insurance vendors covered in the cyber insurance market are Allianz (Germany), AIG (US), Aon (UK), Arthur J.
Gallagher & Co (US), Travelers Insurance (US), AXA XL (US), AXIS Capital (Bermuda), Beazley (UK), Chubb (Switzerland), CNA Financial (US), Fairfax Financial (Canada), Liberty Mutual (US), Lloyd’s of London (UK), Lockton (US), Munich Re Group (Germany), and Sompo International (Bermuda). The startup vendors covered in the cyber insurance market are At-Bay (US), Cybernance (US), CyberCube (US), Coalition (US), Arceo.ai (US), Kovrr (Israel), Sayata Labs (Israel), Zeguro (US), RiskSense (US), Cyence (US), SafeBreach (US), and Cronus Cyber Technologies (Israel). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the cyber insurance market.
The market study covers the cyber insurance market size across different segments.It aims at estimating the market size and the growth potential across different segments, including application, service model, security type, organization size, vertical, and region.
The study further includes an in-depth competitive analysis of the leading market players, along with their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the global cyber insurance market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.
Moreover, the report will provide insights for stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05977659/?utm_source=GNW
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