Wednesday, 21 June 2017

Detailed Research on Developments in Cyberinsurance

Developments in Cyberinsurance is a new market research publication announced by Reportstack. This report analyzes the growing significance of cyberinsurance as a cyber-risk-mitigation strategy. It provides:
  • A global overview of cyberinsurance, and discusses the market dynamics by analyzing key trends, opportunities and challenges
  • An industry-level assessment of risk
  • Insights into the ongoing development of cyberinsurance
  • An overview of the various regulatory changes
  • Analysis of policy gaps and underwriting issues
  • Insight into innovation in cyberinsurance, with respect to product development and strategic partnerships
  • A snapshot of recent developments in leading cyberinsurance regions
  • Complete report available @ Developments in Cyberinsurance
  • This report analyzes the significance of cyberinsurance as a cyber-risk-mitigation tool.
  • It analyzes policy gaps and underwriting issues.
  • It discusses innovation in cyberinsurance with respect to product development and strategic partnerships
  • It provides a snapshot of recent developments in the leading cyberinsurance regions
  • Reasons to Buy
  • Build an understanding about the cyberinsurance market from a global perspective
  • Develop an insight into market trends and drivers
  • Gain an understanding of regulations in particular regions or industries related to cyberinsurance
  • Learn about different competitive strategies in the industry
  • Key Highlights
  • Cyber-risk insurance premiums are relatively high – around three times higher than commercial general liability policies, and six times higher than property insurance, according to a study by Marsh and the UK Government in 2015.
  • The final version of General Data Protection Regulation (GDPR) has been adopted and will be enforced by May 25, 2018, following a proposal by the European Commission in 2012.
  • According to the annual Ponemon Cost of Data Breach 2016 report, the consolidated average per capita cost for 12 countries – the US, Canada, the UK, Germany, France, Italy, Australia, Japan, the Middle East, Brazil, India and South Africa – was US$158, compared to an average of US$154 in 2015, excluding South Africa.
  • Europe has the world’s second-largest regional cyberinsurance market, accounting for around US$150 million in premiums according to broker Marsh & McLennan. Allianz has estimated that the European cyberinsurance market could reach US$1 billion by 2018, as regulation and overall knowledge grow.
  • In May 2016, the Hong Kong Monetary Authority (HKMA) announced its Cybersecurity Fortification Initiative (CFI) that establishes a framework for assessing vulnerability to cyber-risks, creates a program for building cybersecurity expertise, and provides a platform for industry sharing of cyberintelligence.

  • Companies Mentioned
    Willis Towers Watson Allianz Global Corporate & Specialty (AGCS) RLI Insurance Company AIG Hiscox XL Catlin Chubb Ltd XL Group Ltd Ironshore Inc. Allied World Assurance Co. Axis Capital Holdings Ltd
    Debora White
    Manager - Marketing
    Ph: +1-888-789-6604
    ReportstackMarket Research

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