Overview

Cyber fighter: Industry demand will rise as more businesses store sensitive information online

IBISWorld’s Cyber Liability Insurance market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

REPORT SNAPSHOT

Market Share of Companies
There are no companies with a dominant market share in this industry
Industry Statistics & Market Size
Revenue
$2bn
Annual Growth
11-16
15.2%
Annual Growth
16-21
Profit
Employment
2,362
Business
178

Industry Threats & Opportunities

  • The increasing amount of services conducted online will encourage industry growth
  • Companies that handle intangible assets have increased purchases of cyber liability insurance
  • Internet traffic volume is forecast to exhibit strong growth, increasing industry revenue

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    Industry Analysis & Industry Trends

    In the five years to 2016, the Cyber Liability Insurance industry has developed and grown to accommodate the increasingly digital business landscape. Additionally, in the next five years, the percentage of services conducted online is expected to continue rising, bolstering demand for the industry as more businesses seek to lower risk from potential cyber attacks. However, while the industry is expected to continue expanding, revenue growth will start to slow as the number of businesses with online operations approaches its saturation point...

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    Industry Report - Industry Locations Chapter

    The geographical location of cyber liability insurers is similar to the dispersion of primary insurers, as these companies make up the majority of the industry's clientele. Both industries also have businesses that operate in each arena, meaning some primary insurers offer reinsurance coverage or vice versa. Regulatory requirements also influence the distribution of industry establishments because cyber liability insurers are regulated on a state-by-state basis. At the same time, cyber liability insurers are not present in every state because a local presence is not needed to effectively distribute policies. Instead, cyber liability insurers rely on brokers and agents with industry expertise and strong contacts to gain business.

    ..

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    Additional Insights for the Cyber Liability Insurance Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Cyber Liability Insurance Industry are

  • Must comply with government regulations
  • Degree of globalization in the firm
  • Strong financial position
  • IBISWorld analysts also discuss how external factors such as Internet traffic volume and Percentage of services conducted online in the Cyber Liability Insurance industry impact industry performance..

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    Look under the hood?

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    Industry Products

    What is the Cyber Liability Insurance Industry?

    This industry underwrites (i.e. assumes risk and assigns premiums) cyber liability insurance, which is used to protect businesses’ and working professionals’ lost income or liabilities related to business interruptions, network security, internet liability, electronic communications, intangible assets and web-content liability.

    Industry Products
    Property and theft (first-party protection)
    Liability (third-party protection)
    First-Party and Third-Party losses
    Industry Activities
    Underwriting property and theft (first-party) insurance
    Underwriting cyber liability (third-party) insurance

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Internet traffic volume
  • Percentage of services conducted online
  • Corporate profit
  • Demand from e-commerce and online auctions
  • Demand from finance and insurance
  • Demand from healthcare and social assistance

  • Current Performance
  • Movement to the web
  • Growth from concern
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • Going online
  • Future landscape
  • Table: Cyber Liability Insurance Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Cyber Liability Insurance Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Retail Trade
  • Information
  • Finance and Insurance
  • Educational Services
  • Healthcare and Social Assistance

  • Key Selling Industries
  • Insurance Brokers & Agencies

  • Products & Services
  • First-Party and Third-Party losses
  • Liability (third-party protection)
  • Property and theft (first-party protection)
  • Chart: Cyber Liability Insurance Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Other
  • Healthcare sector
  • Financial service sector
  • Retail sector
  • Professional Services
  • Technology
  • Chart: Major Market Segmentation for the Cyber Liability Insurance Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Cyber Liability Insurance

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Cyber Liability Insurance Industry

  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Cyber Liability Insurance Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Cyber Liability Insurance Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Internet traffic volume (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Cyber Attack
  • The deliberate exploitation of computer systems, technology-dependent enterprises and networks.
  • Data Breach
  • The unintentional release of secure information to an untrusted environment.
  • Underwriting
  • To accept liability under an insurance policy; thus, guaranteeing payment in case loss or damage occurs.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Cyber Liability Insurance:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Cyber Liability Insurance market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Cyber Liability Insurance, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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