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Cyber Liability Insurance in the US - Industry Market Research Report

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    Report

  • 41 Pages
  • October 2022
  • Region: United States
  • IBISWorld
  • ID: 2629713

Firewall Security: Increased Internet Traffic Volume Will Prompt Rising Demand for Industry Services

Over the five years to 2019, the Cyber Liability Insurance industry has benefited from all types of companies integrating online services into their business operations. Financial institutions have been one particular source of increased demand for industry operators' services in recent years. These institutions are privy to a wide range of their customers' personal and financial information, making them a prime target for a cybersecurity attack. The industry is expected to continue to grow over the five years to 2024. The percentage of services conducted online is projected to increase every year over the next five years, encouraging more businesses to purchase cyber liability insurance to prevent significant financial loss from potential cyberattacks. Growth in major markets, such as healthcare, financial services and retail, are expected to help push the industry forward during the outlook period because of growing concerns regarding identity theft. This industry underwrites (i.e. assumes risk and assigns premiums) cyber liability insurance, which is used to protect businesses’ and working professionals’ lost income or liabilities related to business interruptions, network security, internet liability, electronic communications, intangible assets and online content liability.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Table of Contents

ABOUT THIS INDUSTRY
  • Industry Definition
  • Main Activities
  • Similar Industries
  • Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
  • Executive Summary
  • Key External Drivers
  • Current Performance
  • Industry Outlook
  • Industry Life Cycle
PRODUCTS & MARKETS
  • Supply Chain
  • Products & Services
  • Demand Determinants
  • Major Markets
  • International Trade
  • Business Locations
COMPETITIVE LANDSCAPE
  • Market Share Concentration
  • Key Success Factors
  • Cost Structure Benchmarks
  • Basis of Competition
  • Barriers to Entry
  • Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
  • Capital Intensity
  • Technology & Systems
  • Revenue Volatility
  • Regulation & Policy
  • Industry Assistance
KEY STATISTICS
  • Industry Data
  • Annual Change
  • Key Ratios
JARGON & GLOSSARY

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Chubb Limited
  • Xl Group Ltd
  • American International Group, Inc.

Methodology

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