Cyber Insurance - Thematic Research

Cyber Insurance - Thematic Research

Summary

Cyber insurance can protect entities against these risks by providing a holistic approach that consists of identifying potential areas of attack, providing monetary compensation in the event of an attack, and helping businesses get back on their feet as quickly as possible.

The continued digitization of society presents more opportunities for malevolent actors to do harm to individuals, private firms, and public entities. Cyber incidents are the most important business risk globally, and businesses both large and small need to protect themselves as much as they can. Cyberattacks have the potential to cause massive monetary and reputational damage to organizations and significantly impact entire economies as well.

This report provides an in-depth analysis of the cyber insurance market. It looks at market size as well as claims, contextual and economic factors, regulation, and opportunities. It provides a thorough overview of the market along with analysis of how the development of cyber insurance will impact the insurance value chain.

Scope

• The global cyber insurance market generated an estimated $4.05bn in gross written premiums in 2018.
• The proportion of UK SMEs that hold cyber insurance increased, but is still less than one in five.
• Brokers are a key channel in the distribution of cyber insurance policies.

Reasons to Buy

• Benchmark yourself against the rest of the market.
• Ensure you remain competitive as new innovations and insurance models begin to enter the market.
• Be prepared for how regulation will impact the cyber insurance market over the next few years.