Pannysylvania Magazine

Cyber Insurance Market | Research Cosmos

Cyber Insurance Market Overview Analysis:

Cybercrime is still a serious threat and no longer is considered as a risk covered under traditional network security insurance product. People are more concerned about the security, which increased awareness towards cyber risks from boardroom to data centres, owing to the rising number of attacks.  Loss of brand reputation from cyber-attacks has been cited as a primary reason by most of the industry leaders for the mainstream adoption of cyber insurance programs in their operations.

Since the persistent threat of cyber-crime continues to rise globally, the trend of intrusion of unauthorized access entities into critical data and illegitimate access to private and confidential business information also rises. This has led to huge loss of enterprise value, which is expected to continue over a period of time. Thus, with this loss getting huge day by day, the adoption of cyber insurance is predicted to escalate in the years to come. The cyber insurance market is flourishing owing to increase in demand for cyber insurance policies.

Cyber Insurance Market Size Study:

According to the research report, the Cyber Insurance Market was valued USD 8.5 Billion in 2017, and it is expected to grow USD 14 Billion in 2022, with growing at a CAGR 26% during the Forecast Period 2017-2022. The cyber data breaches are immensely impacting the consumers’ confidence, for instance, most of the cloud-based companies saw close to 46% dip in profit after a major data breach incident. Moreover, data breach has costed around USD 3.6 million in 2017.

Browse Full Report @ https://www.researchcosmos.com/reports/cyber-insurance-industry-research-report-2017-global-market-analysis-developments-and-future-fore/7781727

Cyber Insurance Market Geographical Research Report:

Geographically, market effectors are countries in North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. North America is the leading region for cyber insurance due to the increasing security attacks and the presence of key market players in the region. Large enterprises led the cyber insurance market in terms of size, due to their high purchasing power and the availability of sufficient funds for risk insurance.

Request for Free Sample Report @ https://www.researchcosmos.com/request/cyber-insurance-industry-research-report-2017-global-marke/7781727

Cyber Insurance Market Drivers, and Key Factors:

Rise in cyber data breaches and increasing adoption of cloud-based services are a few factors driving the growth of cyber security insurancemarket, whereas, high costs is inhibiting its growth. Organizations from all industries need coverage for liability and property exposure which is a result of cyber-attacks. This is an opportunity for insurers and reinsurers to innovate cyber insurance products that manage various degrees of risks and cover cost-associated data breaches, credit monitoring, forensic investigations, reputation management, and business interruption. Complex and changing nature of cyber risks limits cyber insurance market growth. Low market penetration of cyber insurance policies in developing countries offers promising business opportunity for market players. Since the premiums for cyber insurance are very high, SMEs refrain to buy expensive covers because of their limited budget constrains over risk management.

Make an Inquire before buying report @ https://www.researchcosmos.com/inquire/cyber-insurance-industry-research-report-2017-global-marke/7781727

Cyber Insurance Market Key Players:

Major market players are XL Group Ltd., American International Group, Inc., Zurich Insurance Co. Ltd., AON PLC., Allianz Global Corporate & Specialty., Munich Re Group., and Lockton Companies, Inc.

About Us:            
Research Cosmos is a provider of standard and customized Industry research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending Industry reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.

Media Contact
Company Name: Research Cosmos
Contact Person: Kevin Stewart
Email: Send Email
Phone: 1-888-709-8757
Address:4390 U.S 1, Suite 211
City: Princeton
State: New Jersey
Country: United States
Website: https://www.researchcosmos.com/reports/cyber-insurance-industry-research-report-2017-global-market-analysis-developments-and-future-fore/7781727