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According to a new research report from IMARC group, the global cyber insurance market has shown strong growth during the period 2015-2020. Looking ahead, IMARC Group expects the market to grow at a CAGR of around 23% during the forecast period (2021-2026).
Cyber ​​insurance is a service that protects businesses against digital threats, such as malicious hacks, data breaches, malware, distributed denial of service (DDoS), malware, and ransomware. It also provides financial cover for sensitive customer information, including credit cards, health records, and social security, account, and driver’s license numbers. It notifies customers of cybersecurity incidents, recovers compromised data, restores their identity and repairs damaged computer systems. Nowadays, various insurers around the world offer personalized plans according to the needs of the business. These plans cover legal fees and costs for physical damage and loss of income.
Market trends
The increasing use of electronic devices to store data makes organizations more vulnerable to cyber attacks and data breaches. This mainly influences the demand for cyber insurance to recover costs, resume basic operations and stabilize the business. Because it also helps the company protect itself against attacks on networks and sensitive data, cyber insurance finds wide application in small and medium-sized enterprises (SMEs). Apart from this, the governing bodies of various countries are implementing strict policies to improve the privacy rights and security of users. This is expected to further strengthen the market growth in the coming years.
Note: We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of related industries. These observations will be incorporated into the report.
Get a PDF sample for more detailed market information: https://www.imarcgroup.com/cyber-insurance-market/requestsample
Analysis and segmentation of the global cyber insurance market 2021-2026:
Competitive landscape:
The competitive landscape of the market has been studied in the report along with the detailed profiles of the major players operating in the market.
Some of the major players operating in the market are:
- Allianz SE
- American International Group Inc.
- AON Plc
- AXA XL
- Berkshire Hathaway Inc.
- Chubb Limited (ACE Limited)
- Lockton Company
- Munich Re
- Lloyd’s Company
- Zurich Insurance Group.
For more information on this report, visit: https://bit.ly/2SBqCMU
The report has segmented the market on the basis of product type, distribution channel, and region.
- Breakdown by component:
Termination by type of insurance:
Breakdown by organization size:
- Small and medium enterprises
- Large companies
Breakdown by end-use sector:
- BFSI
- Health care
- IT and Telecom
- Retail
- Others
Market breakdown by region:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, others)
- Middle East and Africa
If you want the latest primary and secondary data (2021-2026) with cost module, business strategy, distribution channel etc. Click on request a free sample report, the published report will be emailed to you in PDF format within 24-48 hours of receipt. full payment.
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About Us
The IMARC group is a leading market research company providing management strategies and market research worldwide. We partner with clients across industries and regions to identify their most exciting opportunities, address their most critical challenges and transform their businesses.
IMARC’s information products include key business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasting and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and new processing methods are at the top of the market. business expertise.
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