Cybersecurity Insurance Market by Component (Solutions and Services), Type (Standalone & Packaged), Coverage (Data Breach & Cyber Liability), Compliance Requirement, End User (Technology & Insurance) and Region

The Cybersecurity insurance market is estimated at USD 14.4 billion in 2023 and is projected to reach USD 33.4 billion by 2028, at a CAGR of 18.3% from 2023 to 2028. Cybersecurity insurance has become increasingly important for organizations due to stricter data protection and privacy regulations like GDPR in Europe and CCPA in California. These regulations place a higher responsibility on businesses to safeguard sensitive data. Cybersecurity insurance helps organizations comply with these regulations and provides financial protection in the event of non-compliance.

By end users, the insurance providers segment holds the largest market size during the forecast period.

The increasing complexity of cyber risks due to the widespread use of connected devices emphasizes the significance of cybersecurity insurance solutions and services. This growing demand for insurance coverage has motivated providers to offer tailored cyber policies that address the unique needs of organizations. The majority of these insurance providers are based in the United States and include reputable companies such as Berkshire Hathaway, Fairfax Financial, Sompo International, Hartford, Tokio Marine, Zurich, Liberty Mutual, BCS Insurance, AXIS, CNA, Beazley, Travelers Insurance, AIG, AXA XL, and Chubb. These providers offer a diverse range of customizable cyber coverage options, ensuring organizations can find policies that align with their specific requirements. In addition, they provide round-the-clock claims filing services and valuable resources to aid in the recovery process following large-scale cyberattacks.

Based on services, the security awareness training segment is expected to register the fastest growth rate during the forecast period.

Security awareness training plays a crucial role in the emerging cybersecurity insurance market, as it helps to educate end users about the importance of this type of coverage. In August 2019, Cofense, a provider of intelligent phishing defense solutions, partnered with CNA, a property and casualty insurance company. As part of this collaboration, CNA policyholders gained access to Cofense solutions, including security awareness training. This training was integrated into CNA's suite of cyber liability insurance products to enhance policyholders' understanding of cybersecurity risks. Another example is Zeguro, which offers a Security Training module that delivers monthly training modules, automated security training, and evaluates the cybersecurity knowledge of enterprises. This training assists employees in achieving compliance goals for regulations such as PCI-DSS, HIPAA, and GDPR.

Asia Pacific to register the highest growth rate during the forecast period.

The Asia Pacific region, including countries like China, Japan, ANZ, and Singapore, is witnessing significant growth opportunities for the cybersecurity insurance market due to increasing security concerns and technological advancements. Asia Pacific faces higher cyber risks, with insecure interfaces, data breaches, and data losses being prominent threats. The region's rapid connectivity growth and digital transformation make it vulnerable to cyber exploitation. The Chubb Asia Pacific SME Cyber Preparedness Report 2019 highlights SMEs' under-preparedness in managing cyber risks, while increasing regulatory developments drive the demand for cybersecurity insurance. Zurich Insurance predicts substantial market growth in Asia Pacific, with major players like AIG, Allianz, Chubb, and Zurich operating in the region.

Breakdown of primaries

The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:

By Company Type: Tier 1 - 55%, Tier 2 - 30%, and Tier 3 - 15%
By Designation: C-level - 40%, D-level - 25%, and Others - 35%
By Region: North America - 60%, Europe - 20%, Asia Pacific - 12%, Middle East & Africa - 6%, and Latin America - 2%.

The major players in the Cybersecurity insurance market are 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), Cylance (US), FireEye (US), CyberArk (US), CYE (Israel), SecurIT360 (US), and Founder Shield (US).

The insurance vendors covered in the cybersecurity 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 cybersecurity insurance market are At-Bay (US), Cybernance (US), CyberCube (US), Coalition (US), Arceo.ai (US), Kovrr (Israel), Sayata Labs (Israel), Zeguro (US), RiskSense (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 Cybersecurity insurance market.

Research Coverage
The market study covers the Cybersecurity insurance market size across different segments. It aims at estimating the market size and the growth potential across different segments, including offerings (solutions, and services), insurance coverage, insurance type, compliance requirements, end user, and region. The study includes an in-depth competitive analysis of the leading market players, 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 Cybersecurity insurance market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market's pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Surge in mandatory cybersecurity regulations and legislations to boost demand for insurance protection, High rate of recovery of financial losses to promote growth of the cybersecurity insurance market, and Increase in the frequency and sophistication of cyber threats), restraints (Lack of awareness related to cybersecurity insurance and reluctance in choosing cybersecurity insurance over cybersecurity solutions, and Soaring cybersecurity insurance costs), opportunities (Exclusion of cybersecurity insurance cover from Property and Casualty (P&C) insurance, and Adoption of artificial intelligence and blockchain technology for risk analytics), and challenges (Cyber insurers grapple to gain traction despite soaring cybersecurity risks, Data privacy concerns, and Lack of understanding, technical knowledge, and absence of historical cyber data for effective underwriting) influencing the growth of the Cybersecurity insurance market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Cybersecurity insurance market.
Market Development: Comprehensive information about lucrative markets - the report analyses the Cybersecurity insurance market across various regions. Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Cybersecurity insurance market.
Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like 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), Cylance (US), FireEye (US), CyberArk (US), CYE (Israel), SecurIT360 (US).

1 Introduction

1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions & Exclusions
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regional Scope
1.3.3 Years Considered
1.4 Currency Considered
Table 1 USD Exchange Rates, 2019-2022
1.5 Summary of Changes
1.6 Stakeholders

2 Research Methodology

2.1 Research Data
Figure 1 Cybersecurity Insurance Market: Research Design
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Breakup of Primary Profiles
2.1.2.2 Primary Sources
2.1.2.3 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Top-Down Approach
Figure 2 Market Size Estimation Methodology: Top-Down Approach
2.3.2 Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology-Approach 1 (Supply Side): Revenue from Solutions/Services of Cybersecurity Insurance Vendors
Figure 5 Market Size Estimation Methodology-Approach 2, Bottom Up (Supply Side): Collective Revenue from All Solutions, Services, and Insurance Policies of Cybersecurity Insurance Vendors
Figure 6 Market Size Estimation Methodology-Approach 3, Top Down (Demand Side): Share of Cybersecurity Insurance in Overall Information Technology Market
2.4 Market Forecast
Table 2 Factor Analysis
2.5 Assumptions
2.6 Limitations
2.7 Cybersecurity Insurance Market: Recession Impact

3 Executive Summary

3.1 Cybersecurity Insurance Coverage
Figure 7 Market Size, 2021-2028
Figure 8 Market: Regional Snapshot

4 Premium Insights

4.1 Attractive Opportunities in Cybersecurity Insurance Market
Figure 9 Increasing Cyber and Ransomware Attacks to Drive Market Growth
4.2 North America: Market, by Solution and Insurance Coverage (2023)
Figure 10 Cybersecurity Insurance Analytics Platforms and Cyber Liability Segment in North America to Account for Largest Shares in 2023
4.3 Europe: Market, by Solution and Insurance Coverage (2023)
Figure 11 Cybersecurity Insurance Analytics Platforms and Cyber Liability Segment in Europe to Account for Largest Shares in 2023
4.4 Asia-Pacific: Market, by Solution and Insurance Coverage (2023)
Figure 12 Cybersecurity Insurance Analytics Platforms and Cyber Liability Segment in APAC to Account for Largest Shares in 2023
Figure 13 Asia-Pacific to be Best Market for Investments During Forecast Period

5 Market Overview and Industry Trends

5.1 Introduction
5.2 Market Dynamics
Figure 14 Drivers, Restraints, Opportunities, and Challenges: Cybersecurity Insurance Market
5.2.1 Drivers
5.2.1.1 Surge in Mandatory Cybersecurity Regulations and Legislations to Boost Demand for Insurance Protection
5.2.1.2 High Rate of Recovery of Financial Losses to Promote Market Growth
5.2.1.3 Increase in Frequency and Sophistication of Cyber Threats
5.2.2 Restraints
5.2.2.1 Lack of Awareness Related to Cybersecurity Insurance and Reluctance in Choosing Cybersecurity Insurance Over Cybersecurity Solutions
5.2.2.2 Soaring Cybersecurity Insurance Costs
Table 3 Direct Written Premiums Y-O-Y Growth of Standalone and Package Cybersecurity Insurance Underwriters
5.2.3 Opportunities
5.2.3.1 Exclusion of Cybersecurity Insurance Cover from Property and Casualty (P&C) Insurance
5.2.3.2 Adoption of Artificial Intelligence and Blockchain Technology for Risk Analytics
5.2.4 Challenges
5.2.4.1 Cyber Insurers Grapple to Gain Traction Despite Soaring Cybersecurity Risks
5.2.4.2 Data Privacy Concerns
5.2.4.3 Lack of Understanding, Technical Knowledge, and Absence of Historical Cyber Data for Effective Underwriting
5.3 Industry Trends
5.3.1 Value Chain Analysis
Figure 15 Cybersecurity Insurance Market: Value Chain
5.3.2 Brief History of Cybersecurity Insurance Solutions
Figure 16 Evolution of Cybersecurity Insurance Solutions
5.3.2.1 1990S
5.3.2.2 2000S
5.3.2.3 2010S
5.3.2.4 2020S-Present
5.3.3 Ecosystem
Figure 17 Market: Ecosystem
Table 4 Market: Ecosystem
5.3.4 Cybersecurity Insurance Tools, Frameworks, and Techniques
5.3.5 Business Model
5.3.6 Porter's Five Forces Model
Table 5 Impact of Porter's Five Forces on Cybersecurity Insurance Market
5.3.6.1 Threat of New Entrants
5.3.6.2 Threat of Substitutes
5.3.6.3 Bargaining Power of Suppliers
5.3.6.4 Bargaining Power of Buyers
5.3.6.5 Intensity of Competitive Rivalry
5.3.7 Impact of Cybersecurity Insurance on Adjacent Niche Technologies
5.3.7.1 Internet of Things (IoT) Security
5.3.7.2 Cloud Computing Security
5.3.7.3 Artificial Intelligence (AI) Security
5.3.7.4 Blockchain Security
5.3.7.5 Biometric Security
5.3.8 Key Stakeholders and Buying Criteria
5.3.8.1 Key Stakeholders in Buying Process
Figure 18 Influence of Stakeholders on Buying Process for Top Three End-user Insurance Providers
Table 6 Influence of Stakeholders on Buying Process for Top Three End-user Insurance Providers (%)
5.3.8.2 Buying Criteria
Figure 19 Key Buying Criteria for Top Three End-user Insurance Providers
Table 7 Key Buying Criteria for Top Three End-user Insurance Providers
5.3.9 Technology Analysis
5.3.9.1 Adjacent Technologies
5.3.9.1.1 Artificial Intelligence and Machine Learning
5.3.9.1.2 Big Data Analytics
5.3.9.1.3 Internet of Things Security
5.3.9.1.4 Blockchain
5.3.9.1.5 Cloud
5.3.9.2 Related Technologies
5.3.9.2.1 Risk Assessment
5.3.9.2.2 Threat Intelligence
5.3.9.2.3 Load Security Monitoring and Analytics
5.3.9.2.4 Data Breach Response
5.3.10 Future of Cybersecurity Insurance Market Landscape
5.3.11 Trends/Disruptions Impacting Customers’ Businesses
Figure 20 Revenue Shift in Market
5.3.12 Best Practices of Market
5.3.13 Patent Analysis
5.3.13.1 Methodology
5.3.13.2 Document Type
Table 8 Patents Filed, 2020-2023
5.3.13.3 Innovation and Patent Applications
Figure 21 Total Number of Patents Granted, 2020-2023
5.3.13.4 Top Applicants
Figure 22 Top Ten Patent Applicants, 2020-2023
5.3.14 Pricing Model Analysis
5.3.14.1 Average Selling Price Trends
5.3.15 Cybersecurity Insurance Average Selling Price for SMEs
Figure 23 Cybersecurity Insurance Average Selling Price Trend in SMEs
Figure 24 Cybersecurity Insurance Average Selling Price, by Employee Size
5.3.16 Trend of Cybersecurity Insurance Premiums
Table 9 Cybersecurity Insurance Premium Trends
5.3.17 Case Study Analysis
5.3.17.1 Securityscorecard Helped Cyber Insurance Provider Better Understand Customer Risk
5.3.17.2 European Financial Service Providers Leveraged Bitsight for Security Performance Management
5.3.17.3 Country Mutual Insurance Company Leveraged Cyberark's Privileged Security Access Platform
5.3.17.4 Global 500 Insurance Company Chose Prevalent's Third-Party Risk Management Solution
5.3.17.5 Aon Secured Financial Institution's Funds and Data from Third-Party Cyber Risks
5.3.17.6 Chubb's Cybersecurity Insurance Cover Assisted SME in Recovering Financial Losses
5.3.18 Key Conferences & Events in 2023
5.3.18.1 Cybersecurity Insurance Market: Detailed List of Conferences & Events
5.3.19 Regulatory Compliances
5.3.19.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 10 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 11 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 12 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.3.19.2 General Data Protection Regulation
5.3.19.3 Payment Card Industry-Data Security Standard
5.3.19.4 Health Insurance Portability and Accountability Act
5.3.19.5 Federal Information Security Management Act
5.3.19.6 Gramm-Leach-Bliley Act
5.3.19.7 Sarbanes-Oxley Act
5.3.19.8 International Organization for Standardization 27001

6 Cybersecurity Insurance Market, by Offering

6.1 Introduction
6.1.1 Offering: Market Drivers
Figure 25 Services Segment to Grow at Higher CAGR During Forecast Period
Table 13 Market, by Offering, 2018-2022 (USD Million)
Table 14 Market, by Offering, 2023-2028 (USD Million)
Table 15 Offering: Market, by Region, 2018-2022 (USD Million)
Table 16 Offering: Market, by Region, 2023-2028 (USD Million)
6.2 Solutions
6.2.1 Cybersecurity Insurance Solutions to Provide High Data Security and Prevent Data Breaches
Figure 26 Disaster Recovery and Business Continuity to Grow at Highest CAGR During Forecast Period
Table 17 Cybersecurity Insurance Market, by Solution, 2018-2022 (USD Million)
Table 18 Market, by Solution, 2023-2028 (USD Million)
Table 19 Solutions: Market, by Region, 2018-2022 (USD Million)
Table 20 Solutions: Market, by Region, 2023-2028 (USD Million)
6.2.2 Cybersecurity Insurance Analytics Platforms
Table 21 Cybersecurity Insurance Analytics Platforms: Market, by Region, 2018-2022 (USD Million)
Table 22 Cybersecurity Insurance Analytics Platforms: Market, by Region, 2023-2028 (USD Million)
6.2.3 Disaster Recovery and Business Continuity
Table 23 Disaster Recovery and Business Continuity: Market, by Region, 2018-2022 (USD Million)
Table 24 Disaster Recovery and Business Continuity: Market, by Region, 2023-2028 (USD Million)
6.2.4 Cybersecurity Solutions
6.2.4.1 Cyber Risk and Vulnerability Assessment
6.2.4.2 Cybersecurity Resilience
Table 25 Cybersecurity Solutions: Cybersecurity Insurance Market, by Region, 2018-2022 (USD Million)
Table 26 Cybersecurity Solutions: Market, by Region, 2023-2028 (USD Million)
6.3 Services
6.3.1 Need for Professional Consultants to Provide 24/7 Service Response
Figure 27 Security Awareness Training Segment to Grow at Highest CAGR During Forecast Period
Table 27 Market, by Service, 2018-2022 (USD Million)
Table 28 Market, by Service, 2023-2028 (USD Million)
Table 29 Services: Market, by Region, 2018-2022 (USD Million)
Table 30 Services: Market, by Region, 2023-2028 (USD Million)
6.3.2 Consulting/Advisory
Table 31 Consulting/Advisory: Market, by Region, 2018-2022 (USD Million)
Table 32 Consulting/Advisory: Market, by Region, 2023-2028 (USD Million)
6.3.3 Security Awareness Training
Table 33 Security Awareness Training: Market, by Region, 2018-2022 (USD Million)
Table 34 Security Awareness Training: Market, by Region, 2023-2028 (USD Million)
6.3.4 Other Services
Table 35 Other Services: Market, by Region, 2018-2022 (USD Million)
Table 36 Other Services: Market, by Region, 2023-2028 (USD Million)

7 Cybersecurity Insurance Market, by Insurance Coverage

7.1 Introduction
7.1.1 Insurance Coverage: Market Drivers
Figure 28 Data Breach Segment to Grow at Higher CAGR During Forecast Period
Table 37 Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 38 Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 39 Insurance Coverage: Market, by Region, 2018-2022 (USD Million)
Table 40 Insurance Coverage: Market, by Region, 2023-2028 (USD Million)
7.2 Data Breach
7.2.1 Cybersecurity Insurance Coverage to Protect Businesses Against Security and Cyber Breaches
Table 41 Data Breach: Market, by Region, 2018-2022 (USD Million)
Table 42 Data Breach: Cybersecurity Insurance Market, by Region, 2023-2028 (USD Million)
7.2.2 Data Loss
7.2.3 Denial of Service and Downtime
7.2.4 Ransomware Attacks
7.3 Cyber Liability
7.3.1 Cybersecurity Insurance to Cover Cyber Liability, Reducing Data Recovery Cost from Data Breaches and Cyberattacks
Table 43 Cyber Liability: Market, by Region, 2018-2022 (USD Million)
Table 44 Cyber Liability: Market, by Region, 2023-2028 (USD Million)
7.3.2 Types of Cyber Liabilities
7.3.2.1 Data Protection and Privacy Costs
7.3.2.2 Non-Compliance Penalty
7.3.2.3 Brand and Related Intellectual Property Protection
7.3.2.4 Other Cyber Liability Types
7.3.3 Source/Target of Cyber Liabilities
7.3.3.1 Internal
7.3.3.2 External

8 Cybersecurity Insurance Market, by Insurance Type

8.1 Introduction
8.1.1 Insurance Type: Market Drivers
Figure 29 Packaged Segment to Grow at Higher CAGR During Forecast Period
Table 45 Market, by Insurance Type, 2018-2022 (USD Million)
Table 46 Market, by Insurance Type, 2023-2028 (USD Million)
Table 47 Insurance Type: Market, by Region, 2018-2022 (USD Million)
Table 48 Insurance Type: Market, by Region, 2023-2028 (USD Million)
8.2 Packaged
8.2.1 Packaged Insurance to Enhance Digital Transformation and Support Traditional Policies
Table 49 Packaged: Market, by Region, 2018-2022 (USD Million)
Table 50 Packaged: Market, by Region, 2023-2028 (USD Million)
8.3 Standalone
8.3.1 Standalone Insurance to Manage Complex Cyber Risks and Improve Cyber Risk Protection
Table 51 Standalone: Market, by Region, 2018-2022 (USD Million)
Table 52 Standalone: Market, by Region, 2023-2028 (USD Million)

9 Cybersecurity Insurance Market, by Compliance Requirement

9.1 Introduction
9.1.1 Compliance Requirement: Market Drivers
9.2 Healthcare Compliance
9.3 Financial Services Compliance
9.4 Gdpr Compliance
9.5 Data Privacy Compliance
9.6 Other Compliances

10 Cybersecurity Insurance Market, by End-user

10.1 Introduction
10.1.1 End-user: Market Drivers
Figure 30 Technology Provider Segment to Grow at Higher CAGR During Forecast Period
Table 53 Market, by End-user, 2018-2022 (USD Million)
Table 54 Market, by End-user, 2023-2028 (USD Million)
Table 55 End-user: Market, by Region, 2018-2022 (USD Million)
Table 56 End-user: Market, by Region, 2023-2028 (USD Million)
10.2 Technology Providers
10.2.1 Technology Providers to Help Insurance Industry Assess Its Cybersecurity Risks
Figure 31 Government Agencies to Grow at Highest CAGR During Forecast Period
Table 57 Market, by Technology Provider, 2018-2022 (USD Million)
Table 58 Market, by Technology Provider, 2023-2028 (USD Million)
Table 59 Technology Providers: Cybersecurity Insurance Market, by Region, 2018-2022 (USD Million)
Table 60 Technology Providers: Market, by Region, 2023-2028 (USD Million)
10.2.2 Insurance Companies
10.2.3 Insurance Companies: Cybersecurity Insurance Applications
10.2.3.1 Data Breach Protection
10.2.3.2 Business Interruption Coverage
10.2.3.3 Ransomware Protection
Table 61 Insurance Companies: Market, by Region, 2018-2022 (USD Million)
Table 62 Insurance Companies: Market, by Region, 2023-2028 (USD Million)
10.2.4 Third-Party Administrators (Tpas), Brokers, and Consultancies
10.2.5 Third-Party Administrators (Tpas), Brokers, and Consultancies: Cybersecurity Insurance Applications
10.2.5.1 Policy Administration (Tpas)
10.2.5.2 Claim Advocacy (Brokers)
10.2.5.3 Risk Assessment and Mitigation (Consultancies)
Table 63 Third-Party Administrators, Brokers, and Consultancies: Market, by Region, 2018-2022 (USD Million)
Table 64 Third-Party Administrators, Brokers, and Consultancies: Market, by Region, 2023-2028 (USD Million)
10.2.6 Government Agencies
10.2.7 Government Agencies: Cybersecurity Insurance Applications
10.2.7.1 Data Breach Protection
10.2.7.2 Business Interruption Coverage
10.2.7.3 Ransomware Protection
Table 65 Government Agencies: Cybersecurity Insurance Market, by Region, 2018-2022 (USD Million)
Table 66 Government Agencies: Market, by Region, 2023-2028 (USD Million)
10.3 Insurance Providers
10.3.1 Insurance Providers to Underwrite Insurance Policies for Improving Cybersecurity Systems of Organizations
Figure 32 Financial Services Segment to Grow at Highest CAGR During Forecast Period
Table 67 Market, by Insurance Provider, 2018-2022 (USD Million)
Table 68 Market, by Insurance Provider, 2023-2028 (USD Million)
Table 69 Insurance Providers: Market, by Region, 2018-2022 (USD Million)
Table 70 Insurance Providers: Market, by Region, 2023-2028 (USD Million)
10.3.2 Financial Services
10.3.3 Financial Services: Cybersecurity Insurance Applications
10.3.3.1 Risk Assessment and Mitigation
10.3.3.2 Cyber Extortion Coverage
10.3.3.3 Ransomware Protection
Table 71 Financial Services: Cybersecurity Insurance Market, by Region, 2018-2022 (USD Million)
Table 72 Financial Services: Market, by Region, 2023-2028 (USD Million)
10.3.4 IT and Ites
10.3.5 IT and Ites: Cybersecurity Insurance Applications
10.3.5.1 Protection for Sensitive Client Data
10.3.5.2 Intellectual Property Protection
10.3.5.3 Comprehensive Coverage for IT Infrastructure
Table 73 IT and Ites: Market, by Region, 2018-2022 (USD Million)
Table 74 IT and Ites: Market, by Region, 2023-2028 (USD Million)
10.3.6 Healthcare and Life Sciences
10.3.7 Healthcare and Life Sciences: Cybersecurity Insurance Applications
10.3.7.1 Protected Health Information (Phi) Data Breach Coverage
10.3.7.2 Regulatory Compliance Support
10.3.7.3 Cybersecurity Incident Response Support
Table 75 Healthcare and Life Sciences: Market, by Region, 2018-2022 (USD Million)
Table 76 Healthcare and Life Sciences: Market, by Region, 2023-2028 (USD Million)
10.3.8 Retail and Ecommerce
10.3.9 Retail and Ecommerce: Cybersecurity Insurance Applications
10.3.9.1 Ecommerce Website Protection
10.3.9.2 Supply Chain Cyber Risk Coverage
10.3.9.3 Brand Reputation Management
Table 77 Retail and Ecommerce: Cybersecurity Insurance Market, by Region, 2018-2022 (USD Million)
Table 78 Retail and Ecommerce: Market, by Region, 2023-2028 (USD Million)
10.3.10 Telecom
10.3.11 Telecom: Cybersecurity Insurance Applications
10.3.11.1 Network Security Coverage
10.3.11.2 Communication Infrastructure Protection
10.3.11.3 Customer Notification and Support
Table 79 Telecom: Market, by Region, 2018-2022 (USD Million)
Table 80 Telecom: Market, by Region, 2023-2028 (USD Million)
10.3.12 Travel, Tourism, and Hospitality
10.3.13 Travel, Tourism, and Hospitality: Cybersecurity Insurance Applications
10.3.13.1 Reservation System and Booking Protection
10.3.13.2 Payment Card Data Protection
10.3.13.3 Data Breach Notification Costs
Table 81 Travel, Tourism, and Hospitality: Market, by Region, 2018-2022 (USD Million)
Table 82 Travel, Tourism, and Hospitality: Market, by Region, 2023-2028 (USD Million)
10.3.14 Other Insurance Providers
Table 83 Other Insurance Providers: Market, by Region, 2018-2022 (USD Million)
Table 84 Other Insurance Providers: Market, by Region, 2023-2028 (USD Million)

11 Cybersecurity Insurance Market, by Region

11.1 Introduction
Figure 33 Asia-Pacific to Register Highest CAGR During Forecast Period
Table 85 Market, by Region, 2018-2022 (USD Million)
Table 86 Market, by Region, 2023-2028 (USD Million)
11.2 North America
11.2.1 North America: Market Drivers
11.2.2 North America: Recession Impact
Figure 34 North America: Cybersecurity Insurance Market Snapshot
Table 87 North America: Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 88 North America: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 89 North America: Market, by Offering, 2018-2022 (USD Million)
Table 90 North America: Market, by Offering, 2023-2028 (USD Million)
Table 91 North America: Market, by Solution, 2018-2022 (USD Million)
Table 92 North America: Market, by Solution, 2023-2028 (USD Million)
Table 93 North America: Market, by Service, 2018-2022 (USD Million)
Table 94 North America: Market, by Service, 2023-2028 (USD Million)
Table 95 North America: Cybersecurity Insurance Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 96 North America: Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 97 North America: Market, by Insurance Type, 2018-2022 (USD Million)
Table 98 North America: Market, by Insurance Type, 2023-2028 (USD Million)
Table 99 North America: Market, by End-user, 2018-2022 (USD Million)
Table 100 North America: Market, by End-user, 2023-2028 (USD Million)
Table 101 North America: Market, by Technology Provider, 2018-2022 (USD Million)
Table 102 North America: Market, by Technology Provider, 2023-2028 (USD Million)
Table 103 North America: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 104 North America: Market, by Insurance Provider, 2023-2028 (USD Million)
Table 105 North America: Market, by Country, 2018-2022 (USD Million)
Table 106 North America: Market, by Country, 2023-2028 (USD Million)
11.2.3 US
11.2.3.1 Numerous Laws and Regulations Promoting Proactive Incorporation of Cybersecurity Insurance Policy Cover in US to Drive Market
Table 107 US: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 108 US: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 109 US: Market, by Offering, 2018-2022 (USD Million)
Table 110 US: Market, by Offering, 2023-2028 (USD Million)
Table 111 US: Market, by Solution, 2018-2022 (USD Million)
Table 112 US: Market, by Solution, 2023-2028 (USD Million)
Table 113 US: Market, by Service, 2018-2022 (USD Million)
Table 114 US: Market, by Service, 2023-2028 (USD Million)
Table 115 US: Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 116 US: Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 117 US: Cybersecurity Insurance Market, by Insurance Type, 2018-2022 (USD Million)
Table 118 US: Market, by Insurance Type, 2023-2028 (USD Million)
Table 119 US: Market, by End-user, 2018-2022 (USD Million)
Table 120 US: Market, by End-user, 2023-2028 (USD Million)
Table 121 US: Market, by Technology Provider, 2018-2022 (USD Million)
Table 122 US: Market, by Technology Provider, 2023-2028 (USD Million)
Table 123 US: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 124 US: Market, by Insurance Provider, 2023-2028 (USD Million)
11.2.4 Canada
11.2.4.1 Presence of Prominent Cybersecurity Insurance Providers in Canada to Drive Market
Table 125 Canada: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 126 Canada: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 127 Canada: Market, by Offering, 2018-2022 (USD Million)
Table 128 Canada: Market, by Offering, 2023-2028 (USD Million)
Table 129 Canada: Market, by Solution, 2018-2022 (USD Million)
Table 130 Canada: Market, by Solution, 2023-2028 (USD Million)
Table 131 Canada: Market, by Service, 2018-2022 (USD Million)
Table 132 Canada: Market, by Service, 2023-2028 (USD Million)
Table 133 Canada: Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 134 Canada: Cybersecurity Insurance Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 135 Canada: Market, by Insurance Type, 2018-2022 (USD Million)
Table 136 Canada: Market, by Insurance Type, 2023-2028 (USD Million)
Table 137 Canada: Market, by End-user, 2018-2022 (USD Million)
Table 138 Canada: Market, by End-user, 2023-2028 (USD Million)
Table 139 Canada: Market, by Technology Provider, 2018-2022 (USD Million)
Table 140 Canada: Market, by Technology Provider, 2023-2028 (USD Million)
Table 141 Canada: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 142 Canada: Market, by Insurance Provider, 2023-2028 (USD Million)
11.3 Europe
11.3.1 Europe: Market Drivers
11.3.2 Europe: Recession Impact
Table 143 Europe: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 144 Europe: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 145 Europe: Market, by Offering, 2018-2022 (USD Million)
Table 146 Europe: Market, by Offering, 2023-2028 (USD Million)
Table 147 Europe: Market, by Solution, 2018-2022 (USD Million)
Table 148 Europe: Market, by Solution, 2023-2028 (USD Million)
Table 149 Europe: Market, by Service, 2018-2022 (USD Million)
Table 150 Europe: Market, by Service, 2023-2028 (USD Million)
Table 151 Europe: Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 152 Europe: Cybersecurity Insurance Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 153 Europe: Market, by Insurance Type, 2018-2022 (USD Million)
Table 154 Europe: Market, by Insurance Type, 2023-2028 (USD Million)
Table 155 Europe: Market, by End-user, 2018-2022 (USD Million)
Table 156 Europe: Market, by End-user, 2023-2028 (USD Million)
Table 157 Europe: Market, by Technology Provider, 2018-2022 (USD Million)
Table 158 Europe: Market, by Technology Provider, 2023-2028 (USD Million)
Table 159 Europe: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 160 Europe: Market, by Insurance Provider, 2023-2028 (USD Million)
Table 161 Europe: Market, by Country, 2018-2022 (USD Million)
Table 162 Europe: Market, by Country, 2023-2028 (USD Million)
11.3.3 UK
11.3.3.1 Cyber Insurance in UK to be Comparatively Affordable Measure Against Data Breaches with Cyber Extortion Cover, Recovery, and Compliance Costs
Table 163 UK: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 164 UK: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 165 UK: Market, by Offering, 2018-2022 (USD Million)
Table 166 UK: Market, by Offering, 2023-2028 (USD Million)
Table 167 UK: Market, by Solution, 2018-2022 (USD Million)
Table 168 UK: Market, by Solution, 2023-2028 (USD Million)
Table 169 UK: Market, by Service, 2018-2022 (USD Million)
Table 170 UK: Market, by Service, 2023-2028 (USD Million)
Table 171 UK: Cybersecurity Insurance Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 172 UK: Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 173 UK: Market, by Insurance Type, 2018-2022 (USD Million)
Table 174 UK: Market, by Insurance Type, 2023-2028 (USD Million)
Table 175 UK: Market, by End-user, 2018-2022 (USD Million)
Table 176 UK: Market, by End-user, 2023-2028 (USD Million)
Table 177 UK: Market, by Technology Provider, 2018-2022 (USD Million)
Table 178 UK: Market, by Technology Provider, 2023-2028 (USD Million)
Table 179 UK: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 180 UK: Market, by Insurance Provider, 2023-2028 (USD Million)
11.3.4 Germany
11.3.4.1 Increasing Instances of Cybercrimes to Drive Market Growth in Germany
Table 181 Germany: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 182 Germany: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 183 Germany: Market, by Offering, 2018-2022 (USD Million)
Table 184 Germany: Market, by Offering, 2023-2028 (USD Million)
Table 185 Germany: Market, by Solution, 2018-2022 (USD Million)
Table 186 Germany: Market, by Solution, 2023-2028 (USD Million)
Table 187 Germany: Market, by Service, 2018-2022 (USD Million)
Table 188 Germany: Market, by Service, 2023-2028 (USD Million)
Table 189 Germany: Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 190 Germany: Cybersecurity Insurance Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 191 Germany: Market, by Insurance Type, 2018-2022 (USD Million)
Table 192 Germany: Market, by Insurance Type, 2023-2028 (USD Million)
Table 193 Germany: Market, by End-user, 2018-2022 (USD Million)
Table 194 Germany: Market, by End-user, 2023-2028 (USD Million)
Table 195 Germany: Market, by Technology Provider, 2018-2022 (USD Million)
Table 196 Germany: Market, by Technology Provider, 2023-2028 (USD Million)
Table 197 Germany: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 198 Germany: Market, by Insurance Provider, 2023-2028 (USD Million)
11.3.5 France
11.3.5.1 Alarming Cyber-Attack Rates and Ransomware Insurance Coverage Gaps in France to Fuel Demand for Cybersecurity Insurance
Table 199 France: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 200 France: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 201 France: Market, by Offering, 2018-2022 (USD Million)
Table 202 France: Market, by Offering, 2023-2028 (USD Million)
Table 203 France: Market, by Solution, 2018-2022 (USD Million)
Table 204 France: Market, by Solution, 2023-2028 (USD Million)
Table 205 France: Market, by Service, 2018-2022 (USD Million)
Table 206 France: Market, by Service, 2023-2028 (USD Million)
Table 207 France: Cybersecurity Insurance Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 208 France: Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 209 France: Market, by Insurance Type, 2018-2022 (USD Million)
Table 210 France: Market, by Insurance Type, 2023-2028 (USD Million)
Table 211 France: Market, by End-user, 2018-2022 (USD Million)
Table 212 France: Market, by End-user, 2023-2028 (USD Million)
Table 213 France: Market, by Technology Provider, 2018-2022 (USD Million)
Table 214 France: Market, by Technology Provider, 2023-2028 (USD Million)
Table 215 France: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 216 France: Market, by Insurance Provider, 2023-2028 (USD Million)
11.3.6 Spain
11.3.6.1 Rising Cybersecurity Incidents in Spain Amidst 5G Transition to Drive Market Growth
11.3.7 Italy
11.3.7.1 Ransomware Surges and Growing Adoption of Cybersecurity Insurance in Italy to Drive Market Growth
11.3.8 Rest of Europe
Table 217 Rest of Europe: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 218 Rest of Europe: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 219 Rest of Europe: Market, by Offering, 2018-2022 (USD Million)
Table 220 Rest of Europe: Market, by Offering, 2023-2028 (USD Million)
Table 221 Rest of Europe: Market, by Solution, 2018-2022 (USD Million)
Table 222 Rest of Europe: Market, by Solution, 2023-2028 (USD Million)
Table 223 Rest of Europe: Market, by Service, 2018-2022 (USD Million)
Table 224 Rest of Europe: Market, by Service, 2023-2028 (USD Million)
Table 225 Rest of Europe: Cybersecurity Insurance Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 226 Rest of Europe: Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 227 Rest of Europe: Market, by Insurance Type, 2018-2022 (USD Million)
Table 228 Rest of Europe: Market, by Insurance Type, 2023-2028 (USD Million)
Table 229 Rest of Europe: Market, by End-user, 2018-2022 (USD Million)
Table 230 Rest of Europe: Market, by End-user, 2023-2028 (USD Million)
Table 231 Rest of Europe: Market, by Technology Provider, 2018-2022 (USD Million)
Table 232 Rest of Europe: Market, by Technology Provider, 2023-2028 (USD Million)
Table 233 Rest of Europe: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 234 Rest of Europe: Market, by Insurance Provider, 2023-2028 (USD Million)
11.4 Asia-Pacific
11.4.1 Asia-Pacific: Market Drivers
11.4.2 Asia-Pacific: Recession Impact
Figure 35 Asia-Pacific: Cybersecurity Insurance Market Snapshot
Table 235 Asia-Pacific: Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 236 Asia-Pacific: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 237 Asia-Pacific: Market, by Offering, 2018-2022 (USD Million)
Table 238 Asia-Pacific: Market, by Offering, 2023-2028 (USD Million)
Table 239 Asia-Pacific: Market, by Solution, 2018-2022 (USD Million)
Table 240 Asia-Pacific: Market, by Solution, 2023-2028 (USD Million)
Table 241 Asia-Pacific: Market, by Service, 2018-2022 (USD Million)
Table 242 Asia-Pacific: Market, by Service, 2023-2028 (USD Million)
Table 243 Asia-Pacific: Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 244 Asia-Pacific: Cybersecurity Insurance Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 245 Asia-Pacific: Market, by Insurance Type, 2018-2022 (USD Million)
Table 246 Asia-Pacific: Market, by Insurance Type, 2023-2028 (USD Million)
Table 247 Asia-Pacific: Market, by End-user, 2018-2022 (USD Million)
Table 248 Asia-Pacific: Market, by End-user, 2023-2028 (USD Million)
Table 249 Asia-Pacific: Market, by Technology Provider, 2018-2022 (USD Million)
Table 250 Asia-Pacific: Market, by Technology Provider, 2023-2028 (USD Million)
Table 251 Asia-Pacific: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 252 Asia-Pacific: Market, by Insurance Provider, 2023-2028 (USD Million)
Table 253 Asia-Pacific: Market, by Country, 2018-2022 (USD Million)
Table 254 Asia-Pacific: Market, by Country, 2023-2028 (USD Million)
11.4.3 Australia & New Zealand
11.4.3.1 Enforcement of Notifiable Data Breach Scheme and Australian Prudential Regulatory Authority to Help Enterprises Improve Their Business Resiliency Toward Risks
Table 255 Anz: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 256 Anz: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 257 Anz: Market, by Offering, 2018-2022 (USD Million)
Table 258 Anz: Market, by Offering, 2023-2028 (USD Million)
Table 259 Anz: Market, by Solution, 2018-2022 (USD Million)
Table 260 Anz: Market, by Solution, 2023-2028 (USD Million)
Table 261 Anz: Market, by Service, 2018-2022 (USD Million)
Table 262 Anz: Market, by Service, 2023-2028 (USD Million)
Table 263 Anz: Cybersecurity Insurance Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 264 Anz: Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 265 Anz: Market, by Insurance Type, 2018-2022 (USD Million)
Table 266 Anz: Market, by Insurance Type, 2023-2028 (USD Million)
Table 267 Anz: Market, by End-user, 2018-2022 (USD Million)
Table 268 Anz: Market, by End-user, 2023-2028 (USD Million)
Table 269 Anz: Market, by Technology Provider, 2018-2022 (USD Million)
Table 270 Anz: Market, by Technology Provider, 2023-2028 (USD Million)
Table 271 Anz: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 272 Anz: Market, by Insurance Provider, 2023-2028 (USD Million)
11.4.4 China
11.4.4.1 Increasing Investments in Advanced Technologies and Ascending Rates of Cybercrimes to Drive Growth in China
Table 273 China: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 274 China: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 275 China: Market, by Offering, 2018-2022 (USD Million)
Table 276 China: Market, by Offering, 2023-2028 (USD Million)
Table 277 China: Market, by Solution, 2018-2022 (USD Million)
Table 278 China: Market, by Solution, 2023-2028 (USD Million)
Table 279 China: Market, by Service, 2018-2022 (USD Million)
Table 280 China: Market, by Service, 2023-2028 (USD Million)
Table 281 China: Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 282 China: Cybersecurity Insurance Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 283 China: Market, by Insurance Type, 2018-2022 (USD Million)
Table 284 China: Market, by Insurance Type, 2023-2028 (USD Million)
Table 285 China: Market, by End-user, 2018-2022 (USD Million)
Table 286 China: Market, by End-user, 2023-2028 (USD Million)
Table 287 China: Market, by Technology Provider, 2018-2022 (USD Million)
Table 288 China: Market, by Technology Provider, 2023-2028 (USD Million)
Table 289 China: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 290 China: Market, by Insurance Provider, 2023-2028 (USD Million)
11.4.5 Japan
11.4.5.1 Growing Security Breaches Across Various Verticals to Present Opportunities for Japanese Market
Table 291 Japan: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 292 Japan: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 293 Japan: Market, by Offering, 2018-2022 (USD Million)
Table 294 Japan: Market, by Offering, 2023-2028 (USD Million)
Table 295 Japan: Market, by Solution, 2018-2022 (USD Million)
Table 296 Japan: Market, by Solution, 2023-2028 (USD Million)
Table 297 Japan: Market, by Service, 2018-2022 (USD Million)
Table 298 Japan: Market, by Service, 2023-2028 (USD Million)
Table 299 Japan: Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 300 Japan: Cybersecurity Insurance Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 301 Japan: Market, by Insurance Type, 2018-2022 (USD Million)
Table 302 Japan: Market, by Insurance Type, 2023-2028 (USD Million)
Table 303 Japan: Market, by End-user, 2018-2022 (USD Million)
Table 304 Japan: Market, by End-user, 2023-2028 (USD Million)
Table 305 Japan: Market, by Technology Provider, 2018-2022 (USD Million)
Table 306 Japan: Market, by Technology Provider, 2023-2028 (USD Million)
Table 307 Japan: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 308 Japan: Market, by Insurance Provider, 2023-2028 (USD Million)
11.4.6 Southeast Asia
11.4.6.1 Growth Prospects in Southeast Asia's Evolving Cybersecurity Landscape to Drive Market in Region
11.4.7 India
11.4.7.1 Rising Cybersecurity Risks to Accelerate Cyber Insurance Adoption in India
11.4.8 Rest of Asia-Pacific
Table 309 Rest of Asia-Pacific: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 310 Rest of Asia-Pacific: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 311 Rest of Asia-Pacific: Market, by Offering, 2018-2022 (USD Million)
Table 312 Rest of Asia-Pacific: Market, by Offering, 2023-2028 (USD Million)
Table 313 Rest of Asia-Pacific: Market, by Solution, 2018-2022 (USD Million)
Table 314 Rest of Asia-Pacific: Market, by Solution, 2023-2028 (USD Million)
Table 315 Rest of Asia-Pacific: Market, by Service, 2018-2022 (USD Million)
Table 316 Rest of Asia-Pacific: Market, by Service, 2023-2028 (USD Million)
Table 317 Rest of Asia-Pacific: Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 318 Rest of Asia-Pacific: Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 319 Rest of Asia-Pacific: Cybersecurity Insurance Market, by Insurance Type, 2018-2022 (USD Million)
Table 320 Rest of Asia-Pacific: Market, by Insurance Type, 2023-2028 (USD Million)
Table 321 Rest of Asia-Pacific: Market, by End-user, 2018-2022 (USD Million)
Table 322 Rest of Asia-Pacific: Market, by End-user, 2023-2028 (USD Million)
Table 323 Rest of Asia-Pacific: Market, by Technology Provider, 2018-2022 (USD Million)
Table 324 Rest of Asia-Pacific: Market, by Technology Provider, 2023-2028 (USD Million)
Table 325 Rest of Asia-Pacific: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 326 Rest of Asia-Pacific: Market, by Insurance Provider, 2023-2028 (USD Million)
11.5 Middle East & Africa
11.5.1 Middle East & Africa: Market Drivers
11.5.2 Middle East & Africa: Recession Impact
Table 327 Middle East & Africa: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 328 Middle East & Africa: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 329 Middle East & Africa: Market, by Offering, 2018-2022 (USD Million)
Table 330 Middle East & Africa: Market, by Offering, 2023-2028 (USD Million)
Table 331 Middle East & Africa: Market, by Solution, 2018-2022 (USD Million)
Table 332 Middle East & Africa: Market, by Solution, 2023-2028 (USD Million)
Table 333 Middle East & Africa: Market, by Service, 2018-2022 (USD Million)
Table 334 Middle East & Africa: Market, by Service, 2023-2028 (USD Million)
Table 335 Middle East & Africa: Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 336 Middle East & Africa: Cybersecurity Insurance Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 337 Middle East & Africa: Market, by Insurance Type, 2018-2022 (USD Million)
Table 338 Middle East & Africa: Market, by Insurance Type, 2023-2028 (USD Million)
Table 339 Middle East & Africa: Market, by End-user, 2018-2022 (USD Million)
Table 340 Middle East & Africa: Market, by End-user, 2023-2028 (USD Million)
Table 341 Middle East & Africa: Market, by Technology Provider, 2018-2022 (USD Million)
Table 342 Middle East & Africa: Market, by Technology Provider, 2023-2028 (USD Million)
Table 343 Middle East & Africa: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 344 Middle East & Africa: Market, by Insurance Provider, 2023-2028 (USD Million)
Table 345 Middle East & Africa: Market, by Country, 2018-2022 (USD Million)
Table 346 Middle East & Africa: Market, by Country, 2023-2028 (USD Million)
11.5.3 Ksa
11.5.3.1 Growing Awareness to Lead to Increase in Inquiries and Adoption of Cyber Insurance Policies Among Organizations
Table 347 Ksa: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 348 Ksa: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 349 Ksa: Market, by Offering, 2018-2022 (USD Million)
Table 350 Ksa: Market, by Offering, 2023-2028 (USD Million)
Table 351 Ksa: Market, by Solution, 2018-2022 (USD Million)
Table 352 Ksa: Market, by Solution, 2023-2028 (USD Million)
Table 353 Ksa: Market, by Service, 2018-2022 (USD Million)
Table 354 Ksa: Market, by Service, 2023-2028 (USD Million)
Table 355 Ksa: Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 356 Ksa: Cybersecurity Insurance Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 357 Ksa: Market, by Insurance Type, 2018-2022 (USD Million)
Table 358 Ksa: Market, by Insurance Type, 2023-2028 (USD Million)
Table 359 Ksa: Market, by End-user, 2018-2022 (USD Million)
Table 360 Ksa: Market, by End-user, 2023-2028 (USD Million)
Table 361 Ksa: Market, by Technology Provider, 2018-2022 (USD Million)
Table 362 Ksa: Market, by Technology Provider, 2023-2028 (USD Million)
Table 363 Ksa: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 364 Ksa: Market, by Insurance Provider, 2023-2028 (USD Million)
11.5.4 UAE
11.5.4.1 Increasing Adoption of Advanced Technologies and Fast Development in UAE to be Major Factors Driving Adoption of Cybersecurity Insurance
Table 365 UAE: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 366 UAE: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 367 UAE: Market, by Offering, 2018-2022 (USD Million)
Table 368 UAE: Market, by Offering, 2023-2028 (USD Million)
Table 369 UAE: Market, by Solution, 2018-2022 (USD Million)
Table 370 UAE: Market, by Solution, 2023-2028 (USD Million)
Table 371 UAE: Market, by Service, 2018-2022 (USD Million)
Table 372 UAE: Market, by Service, 2023-2028 (USD Million)
Table 373 UAE: Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 374 UAE: Cybersecurity Insurance Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 375 UAE: Market, by Insurance Type, 2018-2022 (USD Million)
Table 376 UAE: Market, by Insurance Type, 2023-2028 (USD Million)
Table 377 UAE: Market, by End-user, 2018-2022 (USD Million)
Table 378 UAE: Market, by End-user, 2023-2028 (USD Million)
Table 379 UAE: Market, by Technology Provider, 2018-2022 (USD Million)
Table 380 UAE: Market, by Technology Provider, 2023-2028 (USD Million)
Table 381 UAE: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 382 UAE: Market, by Insurance Provider, 2023-2028 (USD Million)
11.5.5 South Africa
11.5.5.1 Companies Becoming Potential Targets for Cybercriminals due to Increased Mobile and Internet Penetration to Drive Growth
11.5.6 Rest of Middle East & Africa
11.6 Latin America
11.6.1 Latin America: Market Drivers
11.6.2 Latin America: Recession Impact
Table 383 Latin America: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 384 Latin America: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 385 Latin America: Market, by Offering, 2018-2022 (USD Million)
Table 386 Latin America: Market, by Offering, 2023-2028 (USD Million)
Table 387 Latin America: Market, by Solution, 2018-2022 (USD Million)
Table 388 Latin America: Market, by Solution, 2023-2028 (USD Million)
Table 389 Latin America: Market, by Service, 2018-2022 (USD Million)
Table 390 Latin America: Market, by Service, 2023-2028 (USD Million)
Table 391 Latin America: Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 392 Latin America: Cybersecurity Insurance Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 393 Latin America: Market, by Insurance Type, 2018-2022 (USD Million)
Table 394 Latin America: Market, by Insurance Type, 2023-2028 (USD Million)
Table 395 Latin America: Market, by End-user, 2018-2022 (USD Million)
Table 396 Latin America: Market, by End-user, 2023-2028 (USD Million)
Table 397 Latin America: Market, by Technology Provider, 2018-2022 (USD Million)
Table 398 Latin America: Market, by Technology Provider, 2023-2028 (USD Million)
Table 399 Latin America: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 400 Latin America: Market, by Insurance Provider, 2023-2028 (USD Million)
Table 401 Latin America: Market, by Country, 2018-2022 (USD Million)
Table 402 Latin America: Market, by Country, 2023-2028 (USD Million)
11.6.3 Brazil
11.6.3.1 Increased Automation and Digitalization in Businesses and Fear of Severe Penalties to Lead to Market Growth in Brazil
Table 403 Brazil: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 404 Brazil: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 405 Brazil: Market, by Offering, 2018-2022 (USD Million)
Table 406 Brazil: Market, by Offering, 2023-2028 (USD Million)
Table 407 Brazil: Market, by Solution, 2018-2022 (USD Million)
Table 408 Brazil: Market, by Solution, 2023-2028 (USD Million)
Table 409 Brazil: Market, by Service, 2018-2022 (USD Million)
Table 410 Brazil: Market, by Service, 2023-2028 (USD Million)
Table 411 Brazil: Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 412 Brazil: Cybersecurity Insurance Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 413 Brazil: Market, by Insurance Type, 2018-2022 (USD Million)
Table 414 Brazil: Market, by Insurance Type, 2023-2028 (USD Million)
Table 415 Brazil: Market, by End-user, 2018-2022 (USD Million)
Table 416 Brazil: Market, by End-user, 2023-2028 (USD Million)
Table 417 Brazil: Market, by Technology Provider, 2018-2022 (USD Million)
Table 418 Brazil: Market, by Technology Provider, 2023-2028 (USD Million)
Table 419 Brazil: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 420 Brazil: Market, by Insurance Provider, 2023-2028 (USD Million)
11.6.4 Mexico
11.6.4.1 Data Protection Regulations Expected to Hold Great Scope for Market Growth in Mexico
Table 421 Mexico: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 422 Mexico: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 423 Mexico: Market, by Offering, 2018-2022 (USD Million)
Table 424 Mexico: Market, by Offering, 2023-2028 (USD Million)
Table 425 Mexico: Market, by Solution, 2018-2022 (USD Million)
Table 426 Mexico: Market, by Solution, 2023-2028 (USD Million)
Table 427 Mexico: Market, by Service, 2018-2022 (USD Million)
Table 428 Mexico: Market, by Service, 2023-2028 (USD Million)
Table 429 Mexico: Cybersecurity Insurance Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 430 Mexico: Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 431 Mexico: Market, by Insurance Type, 2018-2022 (USD Million)
Table 432 Mexico: Market, by Insurance Type, 2023-2028 (USD Million)
Table 433 Mexico: Market, by End-user, 2018-2022 (USD Million)
Table 434 Mexico: Market, by End-user, 2023-2028 (USD Million)
Table 435 Mexico: Market, by Technology Provider, 2018-2022 (USD Million)
Table 436 Mexico: Market, by Technology Provider, 2023-2028 (USD Million)
Table 437 Mexico: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 438 Mexico: Market, by Insurance Provider, 2023-2028 (USD Million)
11.6.5 Rest of Latin America
Table 439 Rest of Latin America: Cybersecurity Insurance Market, by Cyber Insurance, 2018-2022 (USD Million)
Table 440 Rest of Latin America: Market, by Cyber Insurance, 2023-2028 (USD Million)
Table 441 Rest of Latin America: Market, by Offering, 2018-2022 (USD Million)
Table 442 Rest of Latin America: Market, by Offering, 2023-2028 (USD Million)
Table 443 Rest of Latin America: Market, by Solution, 2018-2022 (USD Million)
Table 444 Rest of Latin America: Market, by Solution, 2023-2028 (USD Million)
Table 445 Rest of Latin America: Market, by Service, 2018-2022 (USD Million)
Table 446 Rest of Latin America: Market, by Service, 2023-2028 (USD Million)
Table 447 Rest of Latin America: Cybersecurity Insurance Market, by Insurance Coverage, 2018-2022 (USD Million)
Table 448 Rest of Latin America: Market, by Insurance Coverage, 2023-2028 (USD Million)
Table 449 Rest of Latin America: Market, by Insurance Type, 2018-2022 (USD Million)
Table 450 Rest of Latin America: Market, by Insurance Type, 2023-2028 (USD Million)
Table 451 Rest of Latin America: Market, by End-user, 2018-2022 (USD Million)
Table 452 Rest of Latin America: Market, by End-user, 2023-2028 (USD Million)
Table 453 Rest of Latin America: Market, by Technology Provider, 2018-2022 (USD Million)
Table 454 Rest of Latin America: Market, by Technology Provider, 2023-2028 (USD Million)
Table 455 Rest of Latin America: Market, by Insurance Provider, 2018-2022 (USD Million)
Table 456 Rest of Latin America: Market, by Insurance Provider, 2023-2028 (USD Million)

12 Competitive Landscape

12.1 Introduction
12.2 Strategies Adopted by Key Players
12.2.1 Overview of Strategies Adopted by Key Cybersecurity Insurance Technology Vendors
12.3 Market Share Analysis of Top Market Players
Table 457 Cybersecurity Insurance Market: Degree of Competition
12.4 Historic Revenue Analysis
Figure 36 Historic Three-Year Revenue Analysis of Leading Cybersecurity Insurance Providers, 2020-2022 (USD Million)
12.5 Company Evaluation Quadrant
12.5.1 Stars
12.5.2 Emerging Leaders
12.5.3 Pervasive Players
12.5.4 Participants
Figure 37 Market (Global): Company Evaluation Matrix, 2022
12.6 Startup/SME Evaluation Matrix, 2022
12.6.1 Progressive Companies
12.6.2 Responsive Companies
12.6.3 Dynamic Companies
12.6.4 Starting Blocks
Figure 38 Market (Global): Startup/SME Evaluation Matrix, 2022
12.7 Ranking of Key Technology Players in Market, 2022
Figure 39 Ranking of Key Technology Players, 2022
12.8 Ranking of Key Insurance Providers in Market, 2022
Figure 40 Ranking of Cybersecurity Insurance Providers, 2022
12.9 Competitive Benchmarking
Table 458 Market: Detailed List of Key Startups/SMEs
Table 459 Market: Competitive Benchmarking of Key Startups/SMEs
Table 460 Cybersecurity Insurance Market: Competitive Benchmarking of Major Players
12.10 Competitive Scenario
12.10.1 Product Launches
Table 461 Product Launches, 2019-2022
12.10.2 Deals
Table 462 Deals, 2020-2022
12.10.3 Others
Table 463 Others, 2021

13 Company Profiles

13.1 Introduction
(Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View (Key Strengths/Right to Win, Strategic Choices Made, Weakness/Competitive Threats)*
13.2 Technology Providers
13.2.1 Bitsight
Table 464 Bitsight: Business Overview
Table 465 Bitsight: Products/Solutions/Services Offered
Table 466 Bitsight: Product Launches
Table 467 Bitsight: Deals
13.2.2 Prevalent
Table 468 Prevalent: Business Overview
Table 469 Prevalent: Products/Solutions/Services Offered
Table 470 Prevalent: Product Launches
Table 471 Prevalent: Deals
13.2.3 Redseal
Table 472 Redseal: Business Overview
Table 473 Redseal: Products/Solutions/Services Offered
Table 474 Redseal: Product Launches
13.2.4 Securityscorecard
Table 475 Securityscorecard: Business Overview
Table 476 Securityscorecard: Products/Solutions/Services Offered
Table 477 Securityscorecard: Product Launches
Table 478 Securityscorecard: Deals
13.2.5 Cyber Indemnity Solutions
Table 479 Cyber Indemnity Solutions: Business Overview
Table 480 Cyber Indemnity Solutions: Products/Solutions/Services Offered
13.2.6 Cisco
Table 481 Cisco: Business Overview
Figure 41 Cisco: Company Snapshot
Table 482 Cisco: Products/Solutions/Services Offered
Table 483 Cisco: Deals
Table 484 Cisco: Others
13.2.7 Upguard
Table 485 Upguard: Business Overview
Table 486 Upguard: Products/Solutions/Services Offered
Table 487 Upguard: Product Launches
13.2.8 Microsoft
Table 488 Microsoft: Business Overview
Figure 42 Microsoft: Company Snapshot
Table 489 Microsoft: Products/Solutions/Services Offered
Table 490 Microsoft: Product Launches
Table 491 Microsoft: Deals
13.2.9 Check Point
Table 492 Check Point: Business Overview
Figure 43 Check Point: Company Snapshot
Table 493 Check Point: Products/Solutions/Services Offered
Table 494 Check Point: Deals
13.2.10 Attackiq
Table 495 Attackiq: Business Overview
Table 496 Attackiq: Products/Solutions/Services Offered
Table 497 Attackiq: Product Launches
Table 498 Attackiq: Deals
13.2.11 Sentinelone
13.2.12 Broadcom
13.2.13 Accenture
13.2.14 Cylance
13.2.15 Trellix
13.2.16 Cyberark
13.2.17 Cye
13.2.18 Securit360
13.2.19 Founder Shield
13.3 Insurance Providers
13.3.1 Chubb
13.3.2 Axa Xl
13.3.3 Aig
13.3.4 Travelers
13.3.5 Beazley
13.3.6 Allianz
13.3.7 Aon
13.3.8 Arthur J. Gallagher
13.3.9 Axis Capital
13.3.10 Cna
13.3.11 Fairfax
13.3.12 Liberty Mutual Holding
13.3.13 Lloyd's of London
13.3.14 Lockton
13.3.15 Munich Re
13.3.16 Sompo International
13.4 Startups/SMEs
13.4.1 At-Bay
13.4.2 Cybernance
13.4.3 Coalition
13.4.4 Resilience
13.4.5 Kovrr
13.4.6 Sayata Labs
13.4.7 Zeguro
13.4.8 Ivanti
13.4.9 Safebreach
13.4.10 Cronus Cyber Technologies
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View (Key Strengths/Right to Win, Strategic Choices Made, Weakness/Competitive Threats)* Might Not be Captured in Case of Unlisted Companies.

14 Adjacent and Related Markets

14.1 Introduction
14.1.1 Limitations
14.2 Cybersecurity Market- Global Forecast to 2027
14.2.1 Market Definition
14.2.2 Market Overview
14.2.2.1 Cybersecurity Market, by Component
Table 499 Cybersecurity Market, by Component, 2016-2021 (USD Million)
Table 500 Cybersecurity Market, by Component, 2022-2027 (USD Million)
14.2.2.2 Cybersecurity Market, by Software
Table 501 Cybersecurity Market, by Software, 2016-2021 (USD Million)
Table 502 Cybersecurity Market, by Software, 2022-2027 (USD Million)
14.2.2.3 Cybersecurity Market, by Service
Table 503 Cybersecurity Market, by Service, 2016-2021 (USD Million)
Table 504 Cybersecurity Market, by Service, 2022-2027 (USD Million)
14.2.2.4 Cybersecurity Market, by Security Type
Table 505 Cybersecurity Market, by Security Type, 2016-2021 (USD Million)
Table 506 Cybersecurity Market, by Security Type, 2022-2027 (USD Million)
14.2.2.5 Cybersecurity Market, by Vertical
Table 507 Cybersecurity Market, by Vertical, 2016-2021 (USD Million)
Table 508 Cybersecurity Market, by Vertical, 2022-2027 (USD Million)
14.2.2.6 Cybersecurity Market, by Region
Table 509 Cybersecurity Market, by Region, 2016-2021 (USD Million)
Table 510 Cybersecurity Market, by Region, 2022-2027 (USD Million)
14.3 Digital Insurance Platform Market
14.3.1 Introduction
14.3.2 Digital Insurance Platform Market, by Component
Table 511 Digital Insurance Platform Market, by Component, 2016-2023 (USD Billion)
14.3.3 Digital Insurance Platform Market, by End-user
Table 512 Digital Insurance Platform Market, by End-user, 2016-2023 (USD Billion)
14.4 Insurance Analytics Market
14.4.1 Introduction
14.4.2 Insurance Analytics Market, by Component
Table 513 Insurance Analytics Market, by Component, 2016-2019 (USD Million)
Table 514 Insurance Analytics Market, by Component, 2020-2026 (USD Million)
14.4.3 Insurance Analytics Market, by End-user
Table 515 Insurance Analytics Market, by End-user, 2016-2019 (USD Million)
Table 516 Insurance Analytics Market, by End-user, 2020-2026 (USD Million)

15 Appendix

15.1 Discussion Guide

Companies Mentioned

Accenture
Aig
Allianz
Aon
Arthur J. Gallagher
At-Bay
Attackiq
Axa Xl
Axis Capital
Beazley
Bitsight
Broadcom
Check Point
Chubb
Cisco
Cna
Coalition
Cronus Cyber Technologies
Cyber Indemnity Solutions
Cyberark
Cybernance
Cye
Cylance
Fairfax
Founder Shield
Insurance Providers
Ivanti
Kovrr
Liberty Mutual Holding
Lloyd's of London
Lockton
Microsoft
Munich Re
Prevalent
Redseal
Resilience
Safebreach
Sayata Labs
Securit3
Securityscorecard
Sentinelone
Sompo International
Travelers
Trellix
Upguard
Zeguro

Table Information

Report Attribute	Details
No. of Pages	365
Published	July 2023
Forecast Period	2023 - 2028
Estimated Market Value ( USD ) in 2023	$ 14.4 Billion
Forecasted Market Value ( USD ) by 2028	$ 33.4 Billion
Compound Annual Growth Rate	18.3%
Regions Covered	Global
No. of Companies Mentioned	46

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Cybersecurity Insurance Market by Component (Solutions and Services), Type (Standalone & Packaged), Coverage (Data Breach & Cyber Liability), Compliance Requirement, End User (Technology & Insurance) and Region - Forecast to 2028

By end users, the insurance providers segment holds the largest market size during the forecast period.

Based on services, the security awareness training segment is expected to register the fastest growth rate during the forecast period.

Asia Pacific to register the highest growth rate during the forecast period.

The report provides insights on the following pointers:

Table of Contents

Companies Mentioned

Table Information

By end users, the insurance providers segment holds the largest market size during the forecast period.

Based on services, the security awareness training segment is expected to register the fastest growth rate during the forecast period.

Asia Pacific to register the highest growth rate during the forecast period.

The report provides insights on the following pointers:

Table of Contents

Companies Mentioned

Table Information

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