The global cyber insurance market is currently valued at nearly US$7 billion-8 billion and is expected to grow at over 20% CAGR over 2020-23 on account of increasing cyberattacks, the growing need for IT compliance and regulations, and substantial financial and non-financial losses. The rapid shift to a remote/work-from-home format has compelled enterprises globally to re-think their cybersecurity strategies, reassess their cyber threat exposures, and develop cyber policy plans that can adequately manage any potential threats.
Insurers are experiencing increasing interest in cyber policies from small and midsize enterprises that are presently underinsured and are looking for solutions to shield them from high economic losses in the event of an attack.
In this research, we provide a comprehensive view of the global cyber insurance market, its key growth drivers, and challenges. We also forecast how the market will evolve and its implications for both IT service providers and enterprises.
Scope
Industry: insurance
Geography: global
Contents:
This report examines the following topics:
Cyber insurance market dynamics
Challenges that cyber insurers and enterprises face
