Cyber Insurance, 2021 Update - Thematic Research

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, regulations, 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.

Cybersecurity was thrust into the spotlight in 2020 as the COVID-19 pandemic forced businesses to digitize their processes and adopt remote-working practices overnight. The pandemic also presented an opportunity for cybercriminals to exploit global panic, with a surge in cyberattacks occurring in 2020. This has made the need for cyber insurance apparent to businesses, but the market is not as easy to navigate as it once was.

Scope

• The global cyber insurance market generated $7.01bn in premiums in 2020.
• The market is forecast to post strong growth over the next five years, generating $20.6bn in 2025.
• More providers are entering the market for personal cyber insurance, but only 2.8% of UK consumers hold such a product.

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.