[UKPRwire, Thu May 30 2019] Global Cyber security Insurance Market Size by Organization Size, by Industry, Region and Forecast 2019 to 2025. Global market have varying product lines, mostly depending on the customer requirements. The report also provides the various key strategies adopted by the leading players as the demand is growing from Asia-Pacific economies. Also, the market size has also been laid down based on the Porter’s Five Forces Analysis for the industry players’ decision making.
Global Cyber security Insurance Market anticipated to grow with the highest CAGR of 25.3% in the forecast period 2018-2025.
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Cyber Security Insurance Market: Key Players are American International Group (AIG), The Chubb Corporation, XL Group, Travelers, Beazley, CAN, Liberty Mutual, BCS Insurance, AXIS Insurance Group and Allied World.
Furthermore, growing vulnerability of cyber exploitation due to rise in connected devices across the world and emergence of Internet of Things (IoT) have driven the majorly the Cyber security Insurance Market. Along with the investment in the Cyber security solutions, which include hardware and software solutions, companies have also started to take cyber insurance to mitigate risks. Even if the cyber insurance market is projected to grow in the future, there are quite a few challenges which need to be addressed by the insurers and mentioned further in the report.
Global Cyber security Insurance Market can be further segmented on the basis of the organization size- SMEs, mid-market and large enterprises. Standalone cyber insurance solutions is a recent phenomenon and currently, the underwriting of cyber insurance is still limited due to immature and limited expertise. While the majority of the premium continues to come from the US, there are substantial signs of growth in Europe and Asia pacific which currently have a small base.
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