サイバーセキュリティ保険市場：構成要素別（ソリューションとサービス）、タイプ別（スタンドアロンとパッケージ）、補償範囲別（データ漏洩とサイバー賠償責任）、コンプライアンス要件別、エンドユーザー別（技術と保険）、地域別 - 2028年までの世界予測

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

サイバーセキュリティ保険市場は、2023年に144億米ドルと推定され、2023年から2028年までの年平均成長率は18.3%で、2028年には334億米ドルに達すると予測されている。サイバーセキュリティ保険は、欧州のGDPRやカ... もっと見る

出版社	出版年月	電子版価格	ページ数	図表数	言語
MarketsandMarkets マーケッツアンドマーケッツ	2023年7月28日	US$4,950 シングルユーザライセンスライセンス・価格情報注文方法はこちら	365	559	英語

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サマリー

サイバーセキュリティ保険市場は、2023年に144億米ドルと推定され、2023年から2028年までの年平均成長率は18.3%で、2028年には334億米ドルに達すると予測されている。サイバーセキュリティ保険は、欧州のGDPRやカリフォルニア州のCCPAのようなデータ保護・プライバシー規制の厳格化により、企業にとってますます重要性を増している。これらの規制は、機密データを保護するために企業に高い責任を課している。サイバーセキュリティ保険は、組織がこれらの規制を遵守するのを支援し、遵守できない場合に金銭的な保護を提供する。
エンドユーザー別では、保険プロバイダー分野が予測期間中に最大の市場規模を占める。
コネクテッドデバイスの普及によるサイバーリスクの複雑化は、サイバーセキュリティ保険ソリューションとサービスの重要性を強調している。このような保険に対する需要の高まりは、プロバイダーが組織独自のニーズに対応したオーダーメイドのサイバー保険を提供する動機付けとなっている。これらの保険プロバイダーの大半は米国に拠点を置き、バークシャー・ハサウェイ、フェアファックス・ファイナンシャル、損保インターナショナル、ハートフォード、東京海上、チューリッヒ、リバティミューチュアル、BCSインシュアランス、AXIS、CNA、ビーズリー、トラベラーズ・インシュアランス、AIG、アクサXL、チャブなどの評判の高い企業が名を連ねている。これらのプロバイダーは、カスタマイズ可能な多様なサイバー補償オプションを提供しており、企業は特定の要件に沿った保険を見つけることができる。さらに、24時間体制の保険金請求サービスや、大規模なサイバー攻撃後の復旧プロセスを支援する貴重なリソースを提供している。
サービス別では、セキュリティ意識向上トレーニング分野が予測期間中に最も速い成長率を記録すると予想されている。
セキュリティ意識向上トレーニングは、この種の保険の重要性についてエンドユーザーを教育するのに役立つため、新興のサイバーセキュリティ保険市場で重要な役割を果たしている。2019年8月、インテリジェントなフィッシング防御ソリューションのプロバイダーであるCofenseは、損害保険会社のCNAと提携した。この提携の一環として、CNAの保険契約者はセキュリティ意識向上トレーニングを含むCofenseのソリューションにアクセスできるようになった。このトレーニングは、CNAの一連のサイバー賠償責任保険商品に組み込まれ、契約者のサイバーセキュリティ・リスクに対する理解を深めた。もう一つの例はZeguroである。Zeguroはセキュリティ・トレーニング・モジュールを提供しており、毎月トレーニング・モジュールを配信し、セキュリティ・トレーニングを自動化し、企業のサイバーセキュリティ知識を評価する。このトレーニングは、PCI-DSS、HIPAA、GDPRなどの規制に対するコンプライアンス目標の達成を従業員に支援する。
「予測期間中、アジア太平洋地域が最も高い成長率を記録"
中国、日本、ANZ、シンガポールなどの国々を含むアジア太平洋地域は、セキュリティへの懸念の高まりと技術の進歩により、サイバーセキュリティ保険市場に大きな成長機会をもたらしている。アジア太平洋地域はより高いサイバーリスクに直面しており、安全でないインターフェース、データ漏洩、データ損失が顕著な脅威となっている。同地域の急速な接続性の向上とデジタル変革により、サイバー搾取の影響を受けやすくなっている。Chubb Asia Pacific SME Cyber Preparedness Report 2019」は、サイバーリスク管理における中小企業の準備不足を浮き彫りにする一方、規制の強化がサイバーセキュリティ保険の需要を促進している。チューリッヒ・インシュアランスは、AIG、アリアンツ、チャブ、チューリッヒなどの主要プレーヤーがアジア太平洋地域で事業を展開しており、アジア太平洋地域における市場の大幅な成長を予測している。
プライマリーの内訳

本調査には、ソリューションベンダーからTier1企業まで、さまざまな業界専門家の見識が含まれている。主要企業の内訳は以下の通りである：

- 企業タイプ別ティア1：55%、ティア2：30%、ティア3：15
- 役職別Cレベル -40%、Dレベル -25%、その他 -35
- 地域別北米：60％、欧州：20％、アジア太平洋地域：12％、中東・アフリカ地域：6％、中南米：2％。
サイバーセキュリティ保険市場の主要企業は、BitSight（米国）、Prevalent（米国）、RedSeal（米国）、SecurityScorecard（米国）、Cyber Indemnity Solutions（オーストラリア）、Cisco（米国）、UpGuard（米国）である、Microsoft（米国）、Check Point（米国）、AttackIQ（米国）、SentinelOne（米国）、Broadcom（米国）、Accenture（アイルランド）、Cylance（米国）、FireEye（米国）、CyberArk（米国）、CYE（イスラエル）、SecurIT360（米国）、Founder Shield（米国）。サイバーセキュリティ保険市場でカバーされている保険ベンダーは、Allianz（ドイツ）、AIG（米国）、Aon（英国）、Arthur J. Gallagher & Co（米国）である。Gallagher & Co（米国）、Travelers Insurance（米国）、AXA XL（米国）、AXIS Capital（バミューダ）、Beazley（英国）、Chubb（スイス）、CNA Financial（米国）、Fairfax Financial（カナダ）、Liberty Mutual（米国）、Lloyd's of London（英国）、Lockton（米国）、Munich Re Group（ドイツ）、Sompo International（バミューダ）である。サイバーセキュリティ保険市場でカバーされている新興ベンダーは、At-Bay（米国）、Cybernance（米国）、CyberCube（米国）、Coalition（米国）、Arceo.ai（米国）、Kovrr（イスラエル）、Sayata Labs（イスラエル）、Zeguro（米国）、RiskSense（米国）、SafeBreach（米国）、Cronus Cyber Technologies（イスラエル）である。これらの企業は、サイバーセキュリティ保険市場での足跡を拡大するために、提携、契約、協力、新製品の発表、製品の強化、買収など、さまざまな成長戦略を採用している。

調査対象範囲
この調査レポートは、さまざまなセグメントにわたるサイバーセキュリティ保険市場規模をカバーしています。この調査レポートは、提供サービス（ソリューション、サービス）、保険適用範囲、保険タイプ、コンプライアンス要件、エンドユーザー、地域など、さまざまなセグメントにわたる市場規模と成長の可能性を推定することを目的としています。この調査には、主要市場プレイヤーの詳細な競合分析、会社概要、製品および事業提供に関する主な見解、最近の動向、市場戦略などが含まれます。
レポート購入の主なメリット
本レポートは、世界のサイバーセキュリティ保険市場とそのサブセグメントにおける収益数の最も近い近似値に関する情報を提供し、市場リーダー/新規参入者に役立ちます。本レポートは、利害関係者が競争状況を理解し、自社のビジネスをより良く位置づけ、適切な市場参入戦略を計画するためのより多くの洞察を得るのに役立ちます。さらに、本レポートは、市場の鼓動を理解し、主要な市場促進要因、阻害要因、課題、機会に関する情報を提供するために、利害関係者に洞察を提供します。
本レポートは、以下のポイントに関する洞察を提供します：

主な促進要因（保険保護の需要を高めるサイバーセキュリティ規制および法規制の義務化の急増、サイバーセキュリティ保険市場の成長を促進する金銭的損失の高い回収率、サイバー脅威の頻度と高度化の増加）、阻害要因（サイバーセキュリティ保険に関連する認識の欠如、サイバーセキュリティソリューションよりもサイバーセキュリティ保険を選択することに消極的、サイバーセキュリティ保険費用の高騰）の分析、機会（損害保険からのサイバーセキュリティ保険カバーの除外、リスク分析のための人工知能とブロックチェーン技術の採用）、および課題（サイバーセキュリティリスクの高騰にもかかわらず、サイバー保険会社は普及に苦慮している、データプライバシーへの懸念、効果的な引き受けのための理解不足、技術的知識、過去のサイバーデータの欠如）がサイバーセキュリティ保険市場の成長に影響を与えている。製品開発／イノベーション：サイバーセキュリティ保険市場における今後の技術、研究開発活動、新製品・新サービスの発売に関する詳細な洞察。市場開発：有利な市場に関する包括的情報 - 当レポートでは、さまざまな地域のサイバーセキュリティ保険市場を分析しています。市場の多様化：サイバーセキュリティ保険市場における新製品＆サービス、未開拓地域、最近の開発、投資に関する詳細な情報を提供します。競合他社の評価：BitSight社（米国）、Prevalent社（米国）、RedSeal社（米国）、SecurityScorecard社（米国）、Cyber Indemnity Solutions社（オーストラリア）などの主要企業の市場シェア、成長戦略、サービス内容を詳細に評価、Cisco（米国）、UpGuard（米国）、Microsoft（米国）、Check Point（米国）、AttackIQ（米国）、SentinelOne（米国）、Broadcom（米国）、Accenture（アイルランド）、Cylance（米国）、FireEye（米国）、CyberArk（米国）、CYE（イスラエル）、SecurIT360（米国）。

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1 INTRODUCTION 61
1.1 STUDY OBJECTIVES 61
1.2 MARKET DEFINITION 61
1.2.1 INCLUSIONS & EXCLUSIONS 61
1.3 MARKET SCOPE 63
1.3.1 MARKET SEGMENTATION 63
1.3.2 REGIONAL SCOPE 64
1.3.3 YEARS CONSIDERED 64
1.4 CURRENCY CONSIDERED 65
TABLE 1 USD EXCHANGE RATES, 2019–2022 65
1.5 SUMMARY OF CHANGES 65
1.6 STAKEHOLDERS 66
2 RESEARCH METHODOLOGY 67
2.1 RESEARCH DATA 67
FIGURE 1 CYBERSECURITY INSURANCE MARKET: RESEARCH DESIGN 68
2.1.1 SECONDARY DATA 69
2.1.1.1 Secondary sources 69
2.1.2 PRIMARY DATA 70
2.1.2.1 Breakup of primary profiles 70
2.1.2.2 Primary sources 71
2.1.2.3 Key industry insights 72
2.2 MARKET BREAKUP AND DATA TRIANGULATION 73
2.3 MARKET SIZE ESTIMATION 74
2.3.1 TOP-DOWN APPROACH 74
FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 74
2.3.2 BOTTOM-UP APPROACH 75
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 75
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY–APPROACH 1 (SUPPLY SIDE): REVENUE FROM SOLUTIONS/SERVICES OF CYBERSECURITY INSURANCE VENDORS 76
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 76
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY–APPROACH 3, TOP DOWN (DEMAND SIDE): SHARE OF CYBERSECURITY INSURANCE IN OVERALL INFORMATION TECHNOLOGY MARKET 77
2.4 MARKET FORECAST 78
TABLE 2 FACTOR ANALYSIS 78
2.5 ASSUMPTIONS 79
2.6 LIMITATIONS 80
2.7 CYBERSECURITY INSURANCE MARKET: RECESSION IMPACT 80
3 EXECUTIVE SUMMARY 82
3.1 CYBERSECURITY INSURANCE COVERAGE 82
FIGURE 7 CYBERSECURITY INSURANCE MARKET SIZE, 2021–2028 83
FIGURE 8 CYBERSECURITY INSURANCE MARKET: REGIONAL SNAPSHOT 84
4 PREMIUM INSIGHTS 85
4.1 ATTRACTIVE OPPORTUNITIES IN CYBERSECURITY INSURANCE MARKET 85
FIGURE 9 INCREASING CYBER AND RANSOMWARE ATTACKS TO DRIVE CYBERSECURITY INSURANCE MARKET GROWTH 85
4.2 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY SOLUTION AND INSURANCE COVERAGE (2023) 86
FIGURE 10 CYBERSECURITY INSURANCE ANALYTICS PLATFORMS AND CYBER LIABILITY SEGMENT IN NORTH AMERICA TO ACCOUNT FOR LARGEST SHARES IN 2023 86
4.3 EUROPE: CYBERSECURITY INSURANCE MARKET, BY SOLUTION AND INSURANCE COVERAGE (2023) 86
FIGURE 11 CYBERSECURITY INSURANCE ANALYTICS PLATFORMS AND CYBER LIABILITY SEGMENT IN EUROPE TO ACCOUNT FOR LARGEST SHARES IN 2023 86
4.4 ASIA PACIFIC: CYBERSECURITY INSURANCE MARKET, BY SOLUTION AND INSURANCE COVERAGE (2023) 87
FIGURE 12 CYBERSECURITY INSURANCE ANALYTICS PLATFORMS AND CYBER LIABILITY SEGMENT IN APAC TO ACCOUNT FOR LARGEST SHARES IN 2023 87
FIGURE 13 ASIA PACIFIC TO BE BEST MARKET FOR INVESTMENTS DURING FORECAST PERIOD 87
5 MARKET OVERVIEW AND INDUSTRY TRENDS 88
5.1 INTRODUCTION 88
5.2 MARKET DYNAMICS 88
FIGURE 14 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: CYBERSECURITY INSURANCE MARKET 88
5.2.1 DRIVERS 89
5.2.1.1 Surge in mandatory cybersecurity regulations and legislations to boost demand for insurance protection 89
5.2.1.2 High rate of recovery of financial losses to promote cybersecurity insurance market growth 89
5.2.1.3 Increase in frequency and sophistication of cyber threats 90
5.2.2 RESTRAINTS 90
5.2.2.1 Lack of awareness related to cybersecurity insurance and reluctance in choosing cybersecurity insurance over cybersecurity solutions 90
5.2.2.2 Soaring cybersecurity insurance costs 91
TABLE 3 DIRECT WRITTEN PREMIUMS Y-O-Y GROWTH OF STANDALONE AND PACKAGE CYBERSECURITY INSURANCE UNDERWRITERS 91
5.2.3 OPPORTUNITIES 91
5.2.3.1 Exclusion of cybersecurity insurance cover from Property and Casualty (P&C) insurance 91
5.2.3.2 Adoption of artificial intelligence and blockchain technology for risk analytics 92
5.2.4 CHALLENGES 92
5.2.4.1 Cyber insurers grapple to gain traction despite soaring cybersecurity risks 92
5.2.4.2 Data privacy concerns 92
5.2.4.3 Lack of understanding, technical knowledge, and absence of historical cyber data for effective underwriting 93
5.3 INDUSTRY TRENDS 93
5.3.1 VALUE CHAIN ANALYSIS 93
FIGURE 15 CYBERSECURITY INSURANCE MARKET: VALUE CHAIN 93
5.3.2 BRIEF HISTORY OF CYBERSECURITY INSURANCE SOLUTIONS 94
FIGURE 16 EVOLUTION OF CYBERSECURITY INSURANCE SOLUTIONS 94
5.3.2.1 1990s 95
5.3.2.2 2000s 95
5.3.2.3 2010s 95
5.3.2.4 2020s-Present 95
5.3.3 ECOSYSTEM 95
FIGURE 17 CYBERSECURITY INSURANCE MARKET: ECOSYSTEM 96
TABLE 4 CYBERSECURITY INSURANCE MARKET: ECOSYSTEM 96
5.3.4 CYBERSECURITY INSURANCE TOOLS, FRAMEWORKS, AND TECHNIQUES 98
5.3.5 BUSINESS MODEL 98
5.3.6 PORTER’S FIVE FORCES MODEL 99
TABLE 5 IMPACT OF PORTER’S FIVE FORCES ON CYBERSECURITY INSURANCE MARKET 99
5.3.6.1 Threat of new entrants 100
5.3.6.2 Threat of substitutes 100
5.3.6.3 Bargaining power of suppliers 100
5.3.6.4 Bargaining power of buyers 100
5.3.6.5 Intensity of competitive rivalry 100
5.3.7 IMPACT OF CYBERSECURITY INSURANCE ON ADJACENT NICHE TECHNOLOGIES 101
5.3.7.1 Internet of Things (IoT) Security 101
5.3.7.2 Cloud Computing Security 101
5.3.7.3 Artificial Intelligence (AI) Security 101
5.3.7.4 Blockchain Security 101
5.3.7.5 Biometric Security 101
5.3.8 KEY STAKEHOLDERS AND BUYING CRITERIA 102
5.3.8.1 KEY STAKEHOLDERS IN BUYING PROCESS 102
FIGURE 18 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USER INSURANCE PROVIDERS 102
TABLE 6 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USER INSURANCE PROVIDERS (%) 102
5.3.8.2 BUYING CRITERIA 102
FIGURE 19 KEY BUYING CRITERIA FOR TOP THREE END USER INSURANCE PROVIDERS 102
TABLE 7 KEY BUYING CRITERIA FOR TOP THREE END USER INSURANCE PROVIDERS 103
5.3.9 TECHNOLOGY ANALYSIS 103
5.3.9.1 Adjacent technologies 103
5.3.9.1.1 Artificial Intelligence and Machine Learning 103
5.3.9.1.2 Big Data Analytics 104
5.3.9.1.3 Internet of Things Security 104
5.3.9.1.4 Blockchain 104
5.3.9.1.5 Cloud 105
5.3.9.2 Related Technologies 105
5.3.9.2.1 Risk Assessment 105
5.3.9.2.2 Threat Intelligence 105
5.3.9.2.3 Load Security Monitoring and Analytics 105
5.3.9.2.4 Data Breach Response 106
5.3.10 FUTURE OF CYBERSECURITY INSURANCE MARKET LANDSCAPE 106
5.3.11 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 107
FIGURE 20 REVENUE SHIFT IN CYBERSECURITY INSURANCE MARKET 107
5.3.12 BEST PRACTICES OF CYBERSECURITY INSURANCE MARKET 107
5.3.13 PATENT ANALYSIS 108
5.3.13.1 Methodology 108
5.3.13.2 Document type 108
TABLE 8 PATENTS FILED, 2020–2023 108
5.3.13.3 Innovation and patent applications 108
FIGURE 21 TOTAL NUMBER OF PATENTS GRANTED, 2020–2023 108
5.3.13.4 Top applicants 109
FIGURE 22 TOP TEN PATENT APPLICANTS, 2020–2023 109
5.3.14 PRICING MODEL ANALYSIS 109
5.3.14.1 Average selling price trends 109
5.3.15 CYBERSECURITY INSURANCE AVERAGE SELLING PRICE FOR SMES 109
FIGURE 23 CYBERSECURITY INSURANCE AVERAGE SELLING PRICE TREND IN SMES 109
FIGURE 24 CYBERSECURITY INSURANCE AVERAGE SELLING PRICE, BY EMPLOYEE SIZE 110
5.3.16 TREND OF CYBERSECURITY INSURANCE PREMIUMS 110
TABLE 9 CYBERSECURITY INSURANCE PREMIUM TRENDS 110
5.3.17 CASE STUDY ANALYSIS 110
5.3.17.1 SecurityScorecard helped cyber insurance provider better understand customer risk 111
5.3.17.2 European financial service providers leveraged BitSight for security performance management 111
5.3.17.3 Country Mutual Insurance Company leveraged CyberArk’s privileged security access platform 112
5.3.17.4 Global 500 insurance company chose Prevalent’s third-party risk management solution 112
5.3.17.5 AON secured financial institution’s funds and data from third-party cyber risks 113
5.3.17.6 Chubb’s cybersecurity insurance cover assisted SME in recovering financial losses 113
5.3.18 KEY CONFERENCES & EVENTS IN 2023 114
5.3.18.1 Cybersecurity insurance market: Detailed list of conferences & events 114
5.3.19 REGULATORY COMPLIANCES 114
5.3.19.1 Regulatory bodies, government agencies, and other organizations 115
TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 115
TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 115
TABLE 12 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 116
5.3.19.2 General Data Protection Regulation 116
5.3.19.3 Payment Card Industry-Data Security Standard 117
5.3.19.4 Health Insurance Portability and Accountability Act 117
5.3.19.5 Federal Information Security Management Act 117
5.3.19.6 Gramm-Leach-Bliley Act 117
5.3.19.7 Sarbanes-Oxley Act 118
5.3.19.8 International Organization for Standardization 27001 118
6 CYBERSECURITY INSURANCE MARKET, BY OFFERING 119
6.1 INTRODUCTION 120
6.1.1 OFFERING: CYBERSECURITY INSURANCE MARKET DRIVERS 120
FIGURE 25 SERVICES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD 120
TABLE 13 CYBERSECURITY INSURANCE MARKET, BY OFFERING, 2018–2022 (USD MILLION) 121
TABLE 14 CYBERSECURITY INSURANCE MARKET, BY OFFERING, 2023–2028 (USD MILLION) 121
TABLE 15 OFFERING: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 121
TABLE 16 OFFERING: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 121
6.2 SOLUTIONS 122
6.2.1 CYBERSECURITY INSURANCE SOLUTIONS TO PROVIDE HIGH DATA SECURITY AND PREVENT DATA BREACHES 122
FIGURE 26 DISASTER RECOVERY AND BUSINESS CONTINUITY TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 122
TABLE 17 CYBERSECURITY INSURANCE MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 122
TABLE 18 CYBERSECURITY INSURANCE MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 123
TABLE 19 SOLUTIONS: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 123
TABLE 20 SOLUTIONS: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 123
6.2.2 CYBERSECURITY INSURANCE ANALYTICS PLATFORMS 124
TABLE 21 CYBERSECURITY INSURANCE ANALYTICS PLATFORMS: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 124
TABLE 22 CYBERSECURITY INSURANCE ANALYTICS PLATFORMS: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 124
6.2.3 DISASTER RECOVERY AND BUSINESS CONTINUITY 125
TABLE 23 DISASTER RECOVERY AND BUSINESS CONTINUITY: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 125
TABLE 24 DISASTER RECOVERY AND BUSINESS CONTINUITY: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 125
6.2.4 CYBERSECURITY SOLUTIONS 125
6.2.4.1 Cyber risk and vulnerability assessment 126
6.2.4.2 Cybersecurity resilience 126
TABLE 25 CYBERSECURITY SOLUTIONS: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 126
TABLE 26 CYBERSECURITY SOLUTIONS: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 127
6.3 SERVICES 127
6.3.1 NEED FOR PROFESSIONAL CONSULTANTS TO PROVIDE 24/7 SERVICE RESPONSE 127
FIGURE 27 SECURITY AWARENESS TRAINING SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 127
TABLE 27 CYBERSECURITY INSURANCE MARKET, BY SERVICE, 2018–2022 (USD MILLION) 128
TABLE 28 CYBERSECURITY INSURANCE MARKET, BY SERVICE, 2023–2028 (USD MILLION) 128
TABLE 29 SERVICES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 128
TABLE 30 SERVICES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 129
6.3.2 CONSULTING/ADVISORY 129
TABLE 31 CONSULTING/ADVISORY: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 129
TABLE 32 CONSULTING/ADVISORY: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 130
6.3.3 SECURITY AWARENESS TRAINING 130
TABLE 33 SECURITY AWARENESS TRAINING: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 130
TABLE 34 SECURITY AWARENESS TRAINING: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 131
6.3.4 OTHER SERVICES 131
TABLE 35 OTHER SERVICES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 131
TABLE 36 OTHER SERVICES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 132
7 CYBERSECURITY INSURANCE MARKET, BY INSURANCE COVERAGE 133
7.1 INTRODUCTION 134
7.1.1 INSURANCE COVERAGE: CYBERSECURITY INSURANCE MARKET DRIVERS 134
FIGURE 28 DATA BREACH SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD 134
TABLE 37 CYBERSECURITY INSURANCE MARKET, BY INSURANCE COVERAGE, 2018–2022 (USD MILLION) 135
TABLE 38 CYBERSECURITY INSURANCE MARKET, BY INSURANCE COVERAGE, 2023–2028 (USD MILLION) 135
TABLE 39 INSURANCE COVERAGE: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 135
TABLE 40 INSURANCE COVERAGE: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 135
7.2 DATA BREACH 136
7.2.1 CYBERSECURITY INSURANCE COVERAGE TO PROTECT BUSINESSES AGAINST SECURITY AND CYBER BREACHES 136
TABLE 41 DATA BREACH: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 136
TABLE 42 DATA BREACH: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 136
7.2.2 DATA LOSS 137
7.2.3 DENIAL OF SERVICE AND DOWNTIME 137
7.2.4 RANSOMWARE ATTACKS 137
7.3 CYBER LIABILITY 137
7.3.1 CYBERSECURITY INSURANCE TO COVER CYBER LIABILITY, REDUCING DATA RECOVERY COST FROM DATA BREACHES AND CYBERATTACKS 137
TABLE 43 CYBER LIABILITY: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 138
TABLE 44 CYBER LIABILITY: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 138
7.3.2 TYPES OF CYBER LIABILITIES 138
7.3.2.1 Data protection and privacy costs 138
7.3.2.2 Non-compliance penalty 139
7.3.2.3 Brand and related intellectual property protection 139
7.3.2.4 Other cyber liability types 139
7.3.3 SOURCE/TARGET OF CYBER LIABILITIES 139
7.3.3.1 Internal 139
7.3.3.2 External 140
8 CYBERSECURITY INSURANCE MARKET, BY INSURANCE TYPE 141
8.1 INTRODUCTION 142
8.1.1 INSURANCE TYPE: CYBERSECURITY INSURANCE MARKET DRIVERS 142
FIGURE 29 PACKAGED SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD 142
TABLE 45 CYBERSECURITY INSURANCE MARKET, BY INSURANCE TYPE, 2018–2022 (USD MILLION) 143
TABLE 46 CYBERSECURITY INSURANCE MARKET, BY INSURANCE TYPE, 2023–2028 (USD MILLION) 143
TABLE 47 INSURANCE TYPE: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 143
TABLE 48 INSURANCE TYPE: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 143
8.2 PACKAGED 144
8.2.1 PACKAGED INSURANCE TO ENHANCE DIGITAL TRANSFORMATION AND SUPPORT TRADITIONAL POLICIES 144
TABLE 49 PACKAGED: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 144
TABLE 50 PACKAGED: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 144
8.3 STANDALONE 145
8.3.1 STANDALONE INSURANCE TO MANAGE COMPLEX CYBER RISKS AND IMPROVE CYBER RISK PROTECTION 145
TABLE 51 STANDALONE: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 145
TABLE 52 STANDALONE: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 145
9 CYBERSECURITY INSURANCE MARKET, BY COMPLIANCE REQUIREMENT 146
9.1 INTRODUCTION 146
9.1.1 COMPLIANCE REQUIREMENT: CYBERSECURITY INSURANCE MARKET DRIVERS 146
9.2 HEALTHCARE COMPLIANCE 146
9.3 FINANCIAL SERVICES COMPLIANCE 147
9.4 GDPR COMPLIANCE 147
9.5 DATA PRIVACY COMPLIANCE 147
9.6 OTHER COMPLIANCES 148
10 CYBERSECURITY INSURANCE MARKET, BY END USER 149
10.1 INTRODUCTION 150
10.1.1 END USER: CYBERSECURITY INSURANCE MARKET DRIVERS 150
FIGURE 30 TECHNOLOGY PROVIDER SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD 150
TABLE 53 CYBERSECURITY INSURANCE MARKET, BY END USER, 2018–2022 (USD MILLION) 150
TABLE 54 CYBERSECURITY INSURANCE MARKET, BY END USER, 2023–2028 (USD MILLION) 151
TABLE 55 END USER: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 151
TABLE 56 END USER: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 151
10.2 TECHNOLOGY PROVIDERS 152
10.2.1 TECHNOLOGY PROVIDERS TO HELP INSURANCE INDUSTRY ASSESS ITS CYBERSECURITY RISKS 152
FIGURE 31 GOVERNMENT AGENCIES TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 152
TABLE 57 CYBERSECURITY INSURANCE MARKET, BY TECHNOLOGY PROVIDER, 2018–2022 (USD MILLION) 152
TABLE 58 CYBERSECURITY INSURANCE MARKET, BY TECHNOLOGY PROVIDER, 2023–2028 (USD MILLION) 153
TABLE 59 TECHNOLOGY PROVIDERS: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 153
TABLE 60 TECHNOLOGY PROVIDERS: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 153
10.2.2 INSURANCE COMPANIES 154
10.2.3 INSURANCE COMPANIES: CYBERSECURITY INSURANCE APPLICATIONS 154
10.2.3.1 Data Breach Protection 154
10.2.3.2 Business Interruption Coverage 154
10.2.3.3 Ransomware Protection 154
TABLE 61 INSURANCE COMPANIES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 155
TABLE 62 INSURANCE COMPANIES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 155
10.2.4 THIRD-PARTY ADMINISTRATORS (TPAS), BROKERS, AND CONSULTANCIES 155
10.2.5 THIRD-PARTY ADMINISTRATORS (TPAS), BROKERS, AND CONSULTANCIES: CYBERSECURITY INSURANCE APPLICATIONS 156
10.2.5.1 Policy Administration (TPAs) 156
10.2.5.2 Claim Advocacy (Brokers) 156
10.2.5.3 Risk Assessment and Mitigation (Consultancies) 156
TABLE 63 THIRD-PARTY ADMINISTRATORS, BROKERS, AND CONSULTANCIES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 156
TABLE 64 THIRD-PARTY ADMINISTRATORS, BROKERS, AND CONSULTANCIES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 157
10.2.6 GOVERNMENT AGENCIES 157
10.2.7 GOVERNMENT AGENCIES: CYBERSECURITY INSURANCE APPLICATIONS 157
10.2.7.1 Data Breach Protection 157
10.2.7.2 Business Interruption Coverage 158
10.2.7.3 Ransomware Protection 158
TABLE 65 GOVERNMENT AGENCIES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 158
TABLE 66 GOVERNMENT AGENCIES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 158
10.3 INSURANCE PROVIDERS 159
10.3.1 INSURANCE PROVIDERS TO UNDERWRITE INSURANCE POLICIES FOR IMPROVING CYBERSECURITY SYSTEMS OF ORGANIZATIONS 159
FIGURE 32 FINANCIAL SERVICES SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 159
TABLE 67 CYBERSECURITY INSURANCE MARKET, BY INSURANCE PROVIDER, 2018–2022 (USD MILLION) 159
TABLE 68 CYBERSECURITY INSURANCE MARKET, BY INSURANCE PROVIDER, 2023–2028 (USD MILLION) 160
TABLE 69 INSURANCE PROVIDERS: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 160
TABLE 70 INSURANCE PROVIDERS: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 160
10.3.2 FINANCIAL SERVICES 161
10.3.3 FINANCIAL SERVICES: CYBERSECURITY INSURANCE APPLICATIONS 161
10.3.3.1 Risk Assessment and Mitigation 161
10.3.3.2 Cyber Extortion Coverage 161
10.3.3.3 Ransomware Protection 161
TABLE 71 FINANCIAL SERVICES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 162
TABLE 72 FINANCIAL SERVICES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 162
10.3.4 IT AND ITES 162
10.3.5 IT AND ITES: CYBERSECURITY INSURANCE APPLICATIONS 163
10.3.5.1 Protection for Sensitive Client Data 163
10.3.5.2 Intellectual Property Protection 163
10.3.5.3 Comprehensive Coverage for IT Infrastructure 163
TABLE 73 IT AND ITES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 163
TABLE 74 IT AND ITES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 163
10.3.6 HEALTHCARE AND LIFE SCIENCES 164
10.3.7 HEALTHCARE AND LIFE SCIENCES: CYBERSECURITY INSURANCE APPLICATIONS 164
10.3.7.1 Protected Health Information (PHI) Data Breach Coverage 164
10.3.7.2 Regulatory Compliance Support 164
10.3.7.3 Cybersecurity Incident Response Support 164
TABLE 75 HEALTHCARE AND LIFE SCIENCES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 165
TABLE 76 HEALTHCARE AND LIFE SCIENCES: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 165
10.3.8 RETAIL AND ECOMMERCE 165
10.3.9 RETAIL AND ECOMMERCE: CYBERSECURITY INSURANCE APPLICATIONS 166
10.3.9.1 Ecommerce Website Protection 166
10.3.9.2 Supply Chain Cyber Risk Coverage 166
10.3.9.3 Brand Reputation Management 166
TABLE 77 RETAIL AND ECOMMERCE: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 166
TABLE 78 RETAIL AND ECOMMERCE: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 167
10.3.10 TELECOM 167
10.3.11 TELECOM: CYBERSECURITY INSURANCE APPLICATIONS 167
10.3.11.1 Network Security Coverage 167
10.3.11.2 Communication Infrastructure Protection 167
10.3.11.3 Customer Notification and Support 168
TABLE 79 TELECOM: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 168
TABLE 80 TELECOM: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 168
10.3.12 TRAVEL, TOURISM, AND HOSPITALITY 168
10.3.13 TRAVEL, TOURISM, AND HOSPITALITY: CYBERSECURITY INSURANCE APPLICATIONS 169
10.3.13.1 Reservation System and Booking Protection 169
10.3.13.2 Payment Card Data Protection 169
10.3.13.3 Data Breach Notification Costs 169
TABLE 81 TRAVEL, TOURISM, AND HOSPITALITY: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 169
TABLE 82 TRAVEL, TOURISM, AND HOSPITALITY: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 170
10.3.14 OTHER INSURANCE PROVIDERS 170
TABLE 83 OTHER INSURANCE PROVIDERS: CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 171
TABLE 84 OTHER INSURANCE PROVIDERS: CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 171
11 CYBERSECURITY INSURANCE MARKET, BY REGION 172
11.1 INTRODUCTION 173
FIGURE 33 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 173
TABLE 85 CYBERSECURITY INSURANCE MARKET, BY REGION, 2018–2022 (USD MILLION) 174
TABLE 86 CYBERSECURITY INSURANCE MARKET, BY REGION, 2023–2028 (USD MILLION) 174
11.2 NORTH AMERICA 174
11.2.1 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET DRIVERS 174
11.2.2 NORTH AMERICA: RECESSION IMPACT 175
FIGURE 34 NORTH AMERICA: MARKET SNAPSHOT 175
TABLE 87 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY CYBER INSURANCE, 2018–2022 (USD MILLION) 176
TABLE 88 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY CYBER INSURANCE, 2023–2028 (USD MILLION) 176
TABLE 89 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY OFFERING, 2018–2022 (USD MILLION) 176
TABLE 90 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY OFFERING, 2023–2028 (USD MILLION) 176
TABLE 91 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 177
TABLE 92 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 177
TABLE 93 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY SERVICE, 2018–2022 (USD MILLION) 177
TABLE 94 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY SERVICE, 2023–2028 (USD MILLION) 178
TABLE 95 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY INSURANCE COVERAGE, 2018–2022 (USD MILLION) 178
TABLE 96 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY INSURANCE COVERAGE, 2023–2028 (USD MILLION) 178
TABLE 97 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY INSURANCE TYPE, 2018–2022 (USD MILLION) 178
TABLE 98 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY INSURANCE TYPE, 2023–2028 (USD MILLION) 179
TABLE 99 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY END USER, 2018–2022 (USD MILLION) 179
TABLE 100 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY END USER, 2023–2028 (USD MILLION) 179
TABLE 101 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY TECHNOLOGY PROVIDER, 2018–2022 (USD MILLION) 179
TABLE 102 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY TECHNOLOGY PROVIDER, 2023–2028 (USD MILLION) 180
TABLE 103 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY INSURANCE PROVIDER, 2018–2022 (USD MILLION) 180
TABLE 104 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY INSURANCE PROVIDER, 2023–2028 (USD MILLION) 180
TABLE 105 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 181
TABLE 106 NORTH AMERICA: CYBERSECURITY INSURANCE MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 181
11.2.3 US 181
11.2.3.1 Numerous laws and regulations promoting proactive incorporation of cybersecurity insurance policy cover in US to drive market 181
TABLE 107 US: CYBERSECURITY INSURANCE MARKET, BY CYBER INSURANCE, 2018–2022 (USD MILLION) 181
TABLE 108 US: CYBERSECURITY INSURANCE MARKET, BY CYBER INSURANCE, 2023–2028 (USD MILLION) 182
TABLE 109 US: CYBERSECURITY INSURANCE MARKET, BY OFFERING, 2018–2022 (USD MILLION) 182
TABLE 110 US: CYBERSECURITY INSURANCE MARKET, BY OFFERING, 2023–2028 (USD MILLION) 182
TABLE 111 US: CYBERSECURITY INSURANCE MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 182
TABLE 112 US: CYBERSECURITY INSURANCE MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 183
TABLE 113 US: CYBERSECURITY INSURANCE MARKET, BY SERVICE, 2018–2022 (USD MILLION) 183
TABLE 114 US: CYBERSECURITY INSURANCE MARKET, BY SERVICE, 2023–2028 (USD MILLION) 183
TABLE 115 US: CYBERSECURITY INSURANCE MARKET, BY INSURANCE COVERAGE, 2018–2022 (USD MILLION) 184
TABLE 116 US: CYBERSECURITY INSURANCE MARKET, BY INSURANCE COVERAGE, 2023–2028 (USD MILLION) 184
TABLE 117 US: CYBERSECURITY INSURANCE MARKET, BY INSURANCE TYPE, 2018–2022 (USD MILLION) 184
TABLE 118 US: CYBERSECURITY INSURANCE MARKET, BY INSURANCE TYPE, 2023–2028 (USD MILLION) 184
TABLE 119 US: CYBERSECURITY INSURANCE MARKET, BY END USER, 2018–2022 (USD MILLION) 185
TABLE 120 US: CYBERSECURITY INSURANCE MARKET, BY END USER, 2023–2028 (USD MILLION) 185
TABLE 121 US: CYBERSECURITY INSURANCE MARKET, BY TECHNOLOGY PROVIDER, 2018–2022 (USD MILLION) 185
TABLE 122 US: CYBERSECURITY INSURANCE MARKET, BY TECHNOLOGY PROVIDER, 2023–2028 (USD MILLION) 185
TABLE 123 US: CYBERSECURITY INSURANCE MARKET, BY INSURANCE PROVIDER, 2018–2022 (USD MILLION) 186
TABLE 124 US: CYBERSECURITY INSURANCE MARKET, BY INSURANCE PROVIDER, 2023–2028 (USD MILLION) 186
11.2.4 CANADA 187
11.2.4.1 Presence of prominent cybersecurity insurance providers in Canada to drive market 187
TABLE 125 CANADA: CYBERSECURITY INSURANCE MARKET, BY CYBER INSURANCE, 2018–2022 (USD MILLION) 187
TABLE 126 CANADA: CYBERSECURITY INSURANCE MARKET, BY CYBER INSURANCE, 2023–2028 (USD MILLION) 187
TABLE 127 CANADA: CYBERSECURITY INSURANCE MARKET, BY OFFERING, 2018–2022 (USD MILLION) 187
TABLE 128 CANADA: CYBERSECURITY INSURANCE MARKET, BY OFFERING, 2023–2028 (USD MILLION) 188
TABLE 129 CANADA: CYBERSECURITY INSURANCE MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 188
TABLE 130 CANADA: CYBERSECURITY INSURANCE MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 188
TABLE 131 CANADA: CYBERSECURITY INSURANCE MARKET, BY SERVICE, 2018–2022 (USD MILLION) 188
TABLE 132 CANADA: CYBERSECURITY INSURANCE MARKET, BY SERVICE, 2023–2028 (USD MILLION) 189
TABLE 133 CANADA: CYBERSECURITY INSURANCE MARKET, BY INSURANCE COVERAGE, 2018–2022 (USD MILLION) 189
TABLE 134 CANADA: CYBERSECURITY INSURANCE MARKET, BY INSURANCE COVERAGE, 2023–2028 (USD MILLION) 189
TABLE 135 CANADA: CYBERSECURITY INSURANCE MARKET, BY INSURANCE TYPE, 2018–2022 (USD MILLION) 189
TABLE 136 CANADA: CYBERSECURITY INSURANCE MARKET, BY INSURANCE TYPE, 2023–2028 (USD MILLION) 190
TABLE 137 CANADA: CYBERSECURITY INSURANCE MARKET, BY END USER, 2018–2022 (USD MILLION) 190
TABLE 138 CANADA: CYBERSECURITY INSURANCE MARKET, BY END USER, 2023–2028 (USD MILLION) 190
TABLE 139 CANADA: CYBERSECURITY INSURANCE MARKET, BY TECHNOLOGY PROVIDER, 2018–2022 (USD MILLION) 190
TABLE 140 CANADA: CYBERSECURITY INSURANCE MARKET, BY TECHNOLOGY PROVIDER, 2023–2028 (USD MILLION) 191
TABLE 141 CANADA: CYBERSECURITY INSURANCE MARKET, BY INSURANCE PROVIDER, 2018–2022 (USD MILLION) 191
TABLE 142 CANADA: CYBERSECURITY INSURANCE MARKET, BY INSURANCE PROVIDER, 2023–2028 (USD MILLION) 191
11.3 EUROPE 192
11.3.1 EUROPE: CYBERSECURITY INSURANCE MARKET DRIVERS 192
11.3.2 EUROPE: RECESSION IMPACT 192
TABLE 143 EUROPE: CYBERSECURITY INSURANCE MARKET, BY CYBER INSURANCE, 2018–2022 (USD MILLION) 193
TABLE 144 EUROPE: CYBERSECURITY INSURANCE MARKET, BY CYBER INSURANCE, 2023–2028 (USD MILLION) 193
TABLE 145 EUROPE: CYBERSECURITY INSURANCE MARKET, BY OFFERING, 2018–2022 (USD MILLION) 193
TABLE 146 EUROPE: CYBERSECURITY INSURANCE MARKET, BY OFFERING, 2023–2028 (USD MILLION) 193
TABLE 147 EUROPE: CYBERSECURITY INSURANCE MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 194
TABLE 148 EUROPE: CYBERSECURITY INSURANCE MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 194
TABLE 149 EUROPE: CYBERSECURITY INSURANCE MARKET, BY SERVICE, 2018–2022 (USD MILLION) 194
TABLE 150 EUROPE: CYBERSECURITY INSURANCE MARKET, BY SERVICE, 2023–2028 (USD MILLION) 195
TABLE 151 EUROPE: CYBERSECURITY INSURANCE MARKET, BY INSURANCE COVERAGE, 2018–2022 (USD MILLION) 195
TABLE 152 EUROPE: CYBERSECURITY INSURANCE MARKET, BY INSURANCE COVERAGE, 2023–2028 (USD MILLION) 195
TABLE 153 EUROPE: CYBERSECURITY INSURANCE MARKET, BY INSURANCE TYPE, 2018–2022 (USD MILLION) 195
TABLE 154 EUROPE: CYBERSECURITY INSURANCE MARKET, BY INSURANCE TYPE, 2023–2028 (USD MILLION) 196
TABLE 155 EUROPE: CYBERSECURITY INSURANCE MARKET, BY END USER, 2018–2022 (USD MILLION) 196
TABLE 156 EUROPE: CYBERSECURITY INSURANCE MARKET, BY END USER, 2023–2028 (USD MILLION) 196
TABLE 157 EUROPE: CYBERSECURITY INSURANCE MARKET, BY TECHNOLOGY PROVIDER, 2018–2022 (USD MILLION) 196
TABLE 158 EUROPE: CYBERSECURITY INSURANCE MARKET, BY TECHNOLOGY PROVIDER, 2023–2028 (USD MILLION) 197
TABLE 159 EUROPE: CYBERSECURITY INSURANCE MARKET, BY INSURANCE PROVIDER, 2018–2022 (USD MILLION) 197
TABLE 160 EUROPE: CYBERSECURITY INSURANCE MARKET, BY INSURANCE PROVIDER, 2023–2028 (USD MILLION) 197
TABLE 161 EUROPE: CYBERSECURITY INSURANCE MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 198
TABLE 162 EUROPE: CYBERSECURITY INSURANCE MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 198
11.3.3 UK 198
11.3.3.1 Cyber insurance in UK to be comparatively affordable measure against data breaches with cyber extortion cover, recovery, and compliance costs 198
TABLE 163 UK: CYBERSECURITY INSURANCE MARKET, BY CYBER INSURANCE, 2018–2022 (USD MILLION) 199
TABLE 164 UK: CYBERSECURITY INSURANCE MARKET, BY CYBER INSURANCE, 2023–2028 (USD MILLION) 199
TABLE 165 UK: CYBERSECURITY INSURANCE MARKET, BY OFFERING, 2018–2022 (USD MILLION) 199
TABLE 166 UK: CYBERSECURITY INSURANCE MARKET, BY OFFERING, 2023–2028 (USD MILLION) 199
TABLE 167 UK: CYBERSECURITY INSURANCE MARKET, BY SOLUTION, 2018–2022 (USD MILLION) 200
TABLE 168 UK: CYBERSECURITY INSURANCE MARKET, BY SOLUTION, 2023–2028 (USD MILLION) 200
TABLE 169 UK: CYBERSECURITY INSURANCE MARKET, BY SERVICE, 2018–2022 (USD MILLION) 200
TABLE 170 UK: CYBERSECURITY INSURANCE MARKET, BY SERVICE, 2023–2028 (USD MILLION) 201
TABLE 171 UK: CYBERSECURITY INSURANCE MARKET, BY INSURANCE COVERAGE, 2018–2022 (USD MILLION) 201
TABLE 172 UK: CYBERSECURITY INSURANCE MARKET, BY INSURANCE COVERAGE, 2023–2028 (USD MILLION) 201
TABLE 173 UK: CYBERSECURITY INSURANCE MARKET, BY INSURANCE TYPE, 2018–2022 (USD MILLION) 201
TABLE 174 UK: CYBERSECURITY INSURANCE MARKET, BY INSURANCE TYPE, 2023–2028 (USD MILLION) 202
TABLE 175 UK: CYBERSECURITY INSURANCE MARKET, BY END USER, 2018–2022 (USD MILLION) 202
TABLE 176 UK: CYBERSECURITY INSURANCE MARKET, BY END USER, 2023–2028 (USD MILLION) 202
TABLE 177 UK: CYBERSECURITY INSURANCE MARKET, BY TECHNOLOGY PROVIDER, 2018–2022 (USD MILLION) 202
TABLE 178 UK: CYBERSECURITY INSURANCE MARKET, BY TECHNOLOGY PROVIDER, 2023–2028 (USD MILLION) 203
TABLE 179 UK: CYBERSECURITY INSURANCE MARKET, BY INSURANCE PROVIDER, 2018–2022 (USD MILLION) 203
TABLE 180 UK: CYBERSECURITY INSURANCE MARKET, BY INSURANCE PROVIDER, 2023–2028 (USD MILLION) 203
11.3.4 GERMANY 204

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Table of Contents

Summary

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 to hold 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 to 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 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).

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