Cyber - Liability Insurance Market Report 2025 (Global Edition)

Global Cyber - Liability Insurance Market Report 2025 Market Size Split by Coverage Outlook: (First Party Coverage, Third-Party Coverage), by Enterprises Size Outlook: (SMEs, Large Enterprises), by En...

Cyber - Liability Insurance Market Report Description

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Competitive Landscape of the Cyber - Liability Insurance Market

The competitive landscape of the Cyber-Liability Insurance market is dynamic, driven by increasing demand for protection against cyber threats. Key players include large insurance companies like AIG, Chubb, and Zurich, alongside specialized providers such as Beazley and Hiscox. The market is characterized by intense competition, with companies differentiating through policy coverage, pricing, and added value services like risk management advice and breach response support. The rise in cyberattacks and regulatory requirements is fueling market growth, encouraging insurers to innovate and offer customized policies for various industries. Partnerships with cybersecurity firms are also becoming common for added protection.

In July 2022, Summer Insure introduced a customized commercial cyber solution for SMEs. In addition to providing access to Beazley Cyber services, such as risk management and pre-breach services, this cyber package protects against loss from a cyberattack. (Source: https://www.beazley.com/en-US/products/small-business-solutions-usa/cyber-breach-solutions-small-businesses/) In March 2023, Saiber Innovation Technologies partnered with CYMAR Management Ltd., a cyber-insurance expert, to meet the cyber-insurance requirements of the maritime and logistics industry in the United Arab Emirates and assist in defending this industry against cyberattacks. (Source: https://www.reinsurancene.ws/saiber-cymar-form-partnership-to-address-cyber-insurance-needs-within-the-uae/)

Top Companies Market Share in Cyber - Liability Insurance Industry: (In no particular order of Rank)

• Travelers Indemnity Company (US.)
• AXA XL (US.)
• Chubb (Switzerland)
• American International Group Inc. (US.)
• Beazley Group (UK.)
• AXIS Capital Holdings Limited (Bermuda)
• CNA Financial Corporation (US.)
• BCS Financial Corporation (US.)
• The Hanover Insurance Inc. (US.)
• Zurich Insurance (Switzerland)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Cyber - Liability Insurance Market

Which Region Dominates the Cyber-Liability Insurance Market in 2024?

According to Cognitive Market Research, North America currently dominates the Cyber - Liability Insurances market, and the region is expected to have significant growth during the projected period. This is due to the region's robust digital infrastructure, high technological adoption rates, and stringent regulatory requirements. The United States, in particular, has a significant share, with a market size of USD 4.47 billion in 2024. Europe follows with over 30% of the market share, while Asia Pacific holds around 23%. The rapid digital transformation and increasing cyber threats in these regions are contributing to the growing demand for cyber insurance.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). His rapid expansion is driven by the region's swift digital transformation, leading to increased cyber risks. As of January 2024, demand for cyber insurance in APAC is growing at nearly 50% per year, accounting for 7% of the global market. Countries like China and India are witnessing significant adoption of cyber insurance policies, reflecting a heightened awareness of cyber threats and the need for robust risk management strategies.

The current report Scope analyzes Cyber - Liability Insurance Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Cyber - Liability Insurance

According to Cognitive Market Research, the global Cyber - Liability Insurance market size was estimated at USD 10632.6 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 4253.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Cyber - Liability Insurance market with a market size of USD 3355.65 million in 2024 and is projected to grow at a CAGR of 9.6% during the forecast period. The US market's increasing cyber threats and regulatory requirements.
• The Canada Cyber-Liability Insurance market had a market share of USD 510.36 million in 2024 and is projected to grow at a CAGR of 10.6% during the forecast period. Canada's growth in cyber-liability insurance stems from increasing digital risks.
• The Mexico Cyber-Liability Insurance market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 387.03 million in 2024.

Europe Cyber - Liability Insurance

According to Cognitive Market Research, the global Cyber - Liability Insurance market size was estimated at USD 10632.6 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 3189.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.1% from 2024 to 2031.

• The United Kingdom Cyber - cyber-liability insurance market had a market share of USD 535.88 million in 2024 and is projected to grow at a CAGR of 10.9% during the forecast period. In the UK, Cyber - Liability Insurance sales witness an upswing due to increasing digital threats
• The France Cyber-Liability Insurance market is projected to witness growth at a CAGR of 9.3% during the forecast period, with a market size of USD 293.46 million in 2024.
• According to Cognitive Market Research, the German Cyber-Liability Insurance market size was valued at USD 631.58 million in 2024 and is projected to grow at a CAGR of 10.3% during the forecast period. In Germany, Cyber - cyber-liability insurance surged due to rising cyber threats.
• The Italy Cyber-Liability Insurance market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 274.32 million in 2024.
• The Russia Cyber-Liability Insurance market is projected to witness growth at a CAGR of 9.1% during the forecast period, with a market size of USD 494.42 million in 2024.
• The Spain Cyber-Liability Insurance market is projected to witness growth at a CAGR of 9.2% during the forecast period with a market size of USD 261.56 million in 2024
• The Luxembourg Cyber-Liability Insurance market is projected to witness growth at a CAGR of 10.2% during the forecast period, with a market size of USD 98.88 million in 2024.
• The Portugal Cyber-Liability Insurance market is projected to witness growth at a CAGR of 9.9% during the forecast period, with a market size of USD 66.99 million in 2024.
• The Greece Cyber-Liability Insurance market is projected to witness growth at a CAGR of 10.4% during the forecast period, with a market size of USD 38.28 million in 2024.
• The Rest of Europe's Cyber-Liability Insurance market is projected to witness growth at a CAGR of 8.8% during the forecast period, with a market size of USD 494.42 million in 2024.

Asia Pacific Cyber - Liability Insurance

According to Cognitive Market Research, the global Cyber - Liability Insurance market size was estimated at USD 10632.6 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 2445.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.

• According to Cognitive Market Research, the China Cyber - cyber-liability insurance market size was valued at USD 1100.47 million in 2024 and is projected to grow at a CAGR of 13.1% during the forecast period. Cyber - Cyber-liability insurance surged in China due to rising cybersecurity risks.
• The Japan Cyber-Liability Insurance market is projected to witness growth at a CAGR of 12.1% during the forecast period, with a market size of USD 337.48 million in 2024.
• The India Cyber-Liability Insurance market had a market share of USD 293.46 million in 2024 and is projected to grow at a CAGR of 15.4% during the forecast period. India's growth in Cyber-Liability Insurance is driven by digital expansion .
• The South Korean Cyber-Liability Insurance market is projected to witness growth at a CAGR of 12.7% during the forecast period, with a market size of USD 244.55 million in 2024.
• The Australian Cyber-Liability Insurance market is projected to witness growth at a CAGR of 13.3% during the forecast period, with a market size of USD 127.17 million in 2024.
• The South East Asia Cyber-Liability Insurance market is projected to witness growth at a CAGR of 14.6% during the forecast period, with a market size of USD 168.74 million in 2024.
• The Rest of Asia Pacific Cyber-Liability Insurance market is projected to witness growth at a CAGR of 13.4% during the forecast period, with a market size of USD 173.63 million in 2024.

South America Cyber - Liability Insurance

According to Cognitive Market Research, the global Cyber - Liability Insurance market size was estimated at USD 10632.6 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 531.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil cyber-comb liability insurance market size was valued at USD 227.54 million in 2024 and is projected to grow at a CAGR of 11.6% during the forecast period. Cyber - Cyber-liability insurance flourished in Brazil due to increasing digital risks.
• Argentina's Cyber - cyber-liability insurance market had a market share of USD 89.31 million in 2024 and is projected to grow at a CAGR of 11.9% during the forecast period. Increased digital risks drive Argentina's growth in Cyber-Liability Insurance.
• Colombia Cyber - Liability Insurance market is projected to witness growth at a CAGR of 10.8% during the forecast period, with a market size of 47.32 million in 2024.
• Peru Cyber - Liability Insurance market is projected to witness growth at a CAGR of 11.2% during the forecast period, with a market size of USD 43.59 million in 2024.
• Chile Cyber - Liability Insurance market is projected to witness growth at a CAGR of 11.3% during the forecast period, with a market size of USD 38.28 million in 2024.
• The Rest of Latin America's Cyber-Liability Insurance market is projected to witness growth at a CAGR of 10.1% during the forecast period, with a market size of USD 85.59 million in 2024.

Middle East Cyber - Liability Insurance

According to Cognitive Market Research, the global Cyber - Liability Insurance market size was estimated at USD 10632.6 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 212.65 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.3% from 2024 to 2031..

• The GCC Countries Cyber-Liability Insurance market is projected to witness growth at a CAGR of 12.1% during the forecast period, with a market size of USD 91.02 million in 2024. Cyber - Cyber-liability insurance sales flourish due to digital transformation.
• The Egypt Cyber-Liability Insurance market is projected to witness growth at a CAGR of 11.6% during the forecast period, with a market size of USD 22.23 million in 2024.
• The South Africa Cyber-Liability Insurance market is projected to witness growth at a CAGR of 12.3% during the forecast period, with a market size of USD 33.60 million in 2024. Cyber - Cyber-liability insurance sales flourished in South Africa due to increasing cyber threats and regulations.
• The Turkey Cyber-Liability Insurance market is projected to witness growth at a CAGR of 10.8% during the forecast period, with a market size of USD 18.29 million in 2024.
• The Nigeria Cyber-Liability Insurance market is projected to witness growth at a CAGR of 10.4% during the forecast period, with a market size of USD 22.33 million in 2024.
• The Rest of the MEA Cyber-Liability Insurance market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 25.09 million in 2024.

Cyber - Liability Insurance Market Analysis

How are Segments Performing in the Global Cyber-Liability Insurance Market?

Cyber-Liability Insurance Market Coverage Segment Analysis

According to Cognitive Market Research, First Party Coverage is the fastest-growing segment in the Cyber-Liability Insurance market due to the increasing risk of cyberattacks targeting businesses' assets, including data breaches, ransomware, and system interruptions. This coverage helps organizations mitigate the financial impacts of cyber events that directly affect their operations, such as loss of data, business interruption, and recovery costs. As cyber threats become more sophisticated and frequent, businesses seek more comprehensive protection. This has led to a surge in demand for First Party Coverage, making it a key driver of growth in the Cyber-Liability Insurance sector.

Third-party coverage dominates the Cyber-Liability Insurance market due to its ability to protect businesses from financial risks arising from cyberattacks or data breaches that affect external parties. This type of coverage typically includes liability for damages caused to third-party systems, customers, or partners, which is essential as businesses increasingly face threats from hackers and data misuse. By covering legal costs, fines, and compensation claims from affected third parties, businesses can mitigate significant financial losses. As cyber threats evolve, third-party coverage provides a critical safety net, ensuring businesses are better prepared for the growing risks of cyber-related incidents.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Cyber - Liability Insurance Industry. Request a Free Sample PDF!

Cyber - Liability Insurance Market Enterprise Size Segment Analysis

According to Cognitive Market Research, Small and Medium Enterprises (SMEs) are driving the fastest growth in the Cyber-Liability Insurance market due to increasing cyber threats and the need for data protection. As digital transformation accelerates, SMEs are becoming prime targets for cyberattacks, yet often lack the resources to invest in extensive cybersecurity measures. This creates a growing demand for cyber liability insurance to mitigate financial risks from data breaches, ransomware, and other cyber incidents. Additionally, many SMEs are required by law or business partners to have cyber insurance, further fueling the market's expansion as they seek affordable coverage options.

In the Cyber-Liability Insurance Market, Large enterprises dominate the Cyber-Liability Insurance market due to their extensive digital infrastructure, high exposure to cyber risks, and significant financial resources. With large-scale operations, these companies are more susceptible to data breaches, cyberattacks, and operational disruptions, making robust insurance coverage essential. Their complex networks and large volumes of sensitive data necessitate comprehensive risk management strategies, which cyber liability insurance helps to mitigate. Furthermore, large enterprises often have the financial capacity to invest in specialized coverage that addresses their unique cybersecurity challenges, further solidifying their dominance in the market.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Cyber - Liability Insurance End User Outlook: Segment Analysis

Cyber - Liability Insurance Market End User Segment Analysis

According to Cognitive Market Research, The BFSI (Banking, Financial Services, and Insurance) sector is the fastest-growing segment in the Cyber-Liability Insurance market due to the increasing digitalization of financial transactions and sensitive customer data handling. With rising cyber threats, data breaches, and regulatory compliance requirements, BFSI companies are prioritizing cyber insurance to mitigate potential financial and reputational damage from cyber-attacks. The sector's adoption of advanced technologies, like cloud computing and mobile banking, amplifies its vulnerability to cyber risks, driving demand for comprehensive cyber liability coverage. This trend reflects the need for robust cybersecurity measures in safeguarding both operational integrity and customer trust.

In the Cyber-Liability Insurance market, the rapidly growing sector is IT and ITES (Information Technology and Information Technology Enabled Services) sector dominates the Cyber Liability Insurance market due to its high exposure to cyber risks. With increasing reliance on digital platforms, data storage, and cloud services, businesses in this sector face greater vulnerabilities to cyberattacks, data breaches, and system failures. This has heightened the demand for cyber liability insurance to mitigate potential financial and reputational losses. Additionally, the IT and ITES industries often deal with sensitive customer data, further driving the need for comprehensive coverage against cyber-related incidents, making them key players in the market.

• BFSI
• IT and ITES
• Retail and E-Commerce
• Travel and Tourism
• Hospitality

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion