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

Over the five years to 2018, the Cyber Liability Insurance industry has benefited from all types of companies integrating online services into their business operations. As more services are increasingly conducted online, more users exchange their personal and financial information using the internet. Cyberattacks and hacking could potentially result in customer identity theft and consequently, financial loss for a company, placing liability on the business. Cyber liability insurance has become increasingly attractive to companies seeking protection against financial losses from legal issues stemming from data breaches...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • Businesses that manage customer data, such as credit card information, have been a particularly strong source of demand
  • Policy premiums are generally determined based on the particular industry a client operates within
  • Growth will start to slow as the number of businesses with online operations approaches its saturation point
  • Industry Report - Industry Investment Chapter

    The industry has a low level of capital intensity. For every dollar spent on labor in 2018, an estimated $0.10 is allocated toward capital investments. Industry operators must use computers and software to determine the potential cyber threats to companies in certain industries. However, operators rely heavily on highly-skilled employees to determine the level of currently existing cyber security, the value of information at risk and the appropriate premium to charge the client based on these factors. While the majority of labor costs are attributed to sales and administrative staff that handle accounts and billing, business process software has reduced the need for administrative employees in the industry. Ove...purchase to read more.

    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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    What's in this report

    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

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Internet traffic volume
  • Percentage of services conducted online
  • Regulation for the Property, Casualty and Direct Insurance Industry
  • Corporate profit
  • Demand from e-commerce and online auctions

  • Current Performance
  • Movement online
  • Growth from concern
  • 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

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

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • 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
    American International Group Inc., Chubb plc, XL Group Ltd.,
  • Table: American International Group Inc. - financial performance
  • Table: Chubb plc - financial performance
  • Table: XL Group Ltd. - financial performance

  • 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
    Table: Industry Data for the Cyber Liability Insurance Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Internet traffic volume (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    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.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Cyber Liability Insurance contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
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    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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