Cybersecurity insurance, also known as cyber liability insurance, is a specialized insurance policy designed to protect businesses and individuals from financial losses resulting from cyberattacks, data breaches, and other digital threats. It typically covers costs related to data loss, business interruption, legal fees, regulatory fines, and reputation management. The primary purpose of cybersecurity insurance is to mitigate the financial impact of cyber incidents by providing coverage for response and recovery efforts. It helps organizations manage risk, comply with regulations, and maintain business continuity in the face of growing cyber threats.
The global cybersecurity insurance market was valued at $6,640.58 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 4.00%.
Increased Adoption Of Digital Business Models
The increased adoption of digital business models supported the growth of the cybersecurity insurance market in the historic period. As more companies moved their operations online and relied on digital technologies, their exposure to cyber threats increased. This droves demand for cybersecurity insurance as businesses sought to protect themselves from potential financial losses caused by data breaches, ransomware attacks, and other cyber incidents. For instance, in March 2024, according to the World Bank, a US-based financial institution, reported that between April 2020 and December 2022, the adoption of digital solutions among micro firms (with 0-4 employees) doubled from 10% to 20%, while large firms (with over 100 employees) saw a threefold increase, rising from 20% to 60%, highlighting a significant acceleration in digitizing business processes. Therefore, increased adoption of digital business models drove the growth of the cybersecurity insurance market.
Advancing Cyber Resilience Through Integrated Insurance And Security Solutions
Major companies operating in the cybersecurity insurance market are focusing on launching comprehensive cyber insurance products, to offer end-to-end protection and integrate proactive risk management tools. The aim is to help clients better prepare for, respond to, and recover from sophisticated cyber incidents. For instance, in May 2025, Coalition Inc. a US-based cybersecurity company, launched its innovative Active Cyber Insurance product in the Nordic region through its subsidiary, Coalition Insurance Solutions. Coalition's Active Cyber Insurance combines traditional insurance coverage with cybersecurity insights and tools designed to help businesses manage and mitigate cyber threats. This approach aims to prevent digital risks before they materialize. This launch marks a significant step in strengthening cyber resilience for businesses in Denmark and Sweden, with plans to further expand protection across Europe.
The global cybersecurity insurance market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 34.74% of the total market in 2024.
Cybersecurity Insurance Global Market Opportunities and Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global cybersecurity insurance market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for cybersecurity insurance? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The cybersecurity insurance market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider cybersecurity insurance market; and compares it with other markets.
The report covers the following chapters
- Introduction And Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by insurance type, by insurance coverage, by component, by organization size and by end user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the gas sensors market.
- Growth Analysis And Strategic Analysis Framework- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by insurance type, by insurance coverage, by component, by organization size and by end user in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size And Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on Europe and major countries within the region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers And Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Recent Developments- Information on recent developments in the market covered in the report.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for cybersecurity insurance providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Insurance Type: Packaged; Stand-Alone
- 2) By Insurance Coverage: Data Breach; Cyber Liability
- 3) By Component: Solutions; Services
- 4) By Organization Size: Large Enterprise; Small And Medium Enterprises (SMEs)
- 5) By End User: Technology Provider; Insurance Provider
- Companies Mentioned: The Chubb Corp.; Munich Re AG; Beazley plc; AXA XL; American International Group Inc. (AIG).
- Countries: Ukraine; Austria; Belgium; Denmark; Finland; France; Germany; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; UK; Czech Republic; Poland; Romania; Greece; Hungary
- Regions: Europe
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; cybersecurity insurance indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.