Report cover image

Europe Cyber Insurance Market - By Component (Solution, Services); By Insurance Type (Standalone, Tailored); By Organization Size (Large Enterprises, Small & Medium Sized Enterprises); By Application (Banking & Financial Services, IT & Telecom, Healthcare

Publisher BlueWeave Consulting
Published Jan 03, 2023
Length 190 Pages
SKU # BLWC17631017

Description

Europe Cyber Insurance Market - By Component (Solution, Services); By Insurance Type (Standalone, Tailored); By Organization Size (Large Enterprises, Small & Medium Sized Enterprises); By Application (Banking & Financial Services, IT & Telecom, Healthcare, Retail, Others); By Country (Germany, UK, Italy, France, Spain, The Netherlands, Belgium, Nordic Countries, Rest of Europe); Trend Analysis, Competitive Landscape & Forecast, 2023–2029

Europe Cyber Insurance Market Size Expands at Robust CAGR of 38.2% During 2023–2029
Europe cyber insurance market is gaining significant traction because of the stringent laws by EU authorities to tackle an increasing number of cybercrimes and effectively manage the growing risk of cyberattacks.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Europe cyber insurance market size to grow at an impressive CAGR of 38.2% during the forecast period between 2023 and 2029. The industry is expanding rapidly because of both favorable laws by EU authorities to reduce the danger of cybercrimes in Europe and the growing risk of cyberattacks. The need for cyber insurance is growing, according to Munich RE, a German insurance business, across a variety of sectors, such as healthcare, manufacturing, and government organizations. The key driver for the expansion of the European cyber insurance industry has also been identified as the surge in remote working practices following the COVID-19 outbreak.
Europe Cyber Insurance Market – Overview
Cyber insurance is a specialized insurance policy created to shield companies against risks associated with information technology infrastructure and operations, as well as dangers that are Internet-based. First-party protection against losses such as data loss, extortion, theft, hacking, and denial of service attacks are some examples of the coverage offered by cyber-insurance plans. Liability coverage, which reimburses organizations for damages they cause to third parties, is another option. The financial damages brought on by cyber events and incidents are covered by cyber insurance plans. The costs of cleanup, including paying for legal counsel, investigators, crisis communicators, and consumer credits or refunds, are also assisted by cyber-risk coverage.
Europe Cyber Insurance Market – By Application
Based on application, Europe cyber insurance market is segregated into banking & financial services, IT & telecom, healthcare, retail, and other segments. The banking and financial services sector accounts for the highest market share owing to the high risks and the number of financial frauds in this sector. Cybersecurity risks, such as hacking, ransomware, and distributed denial of service (DDoS) attacks, are common in the BFSI sector, which can cause huge financial losses to organizations. Furthermore, the rising popularity of internet banking and payment apps is further boosting the risks of cyberattacks, which is anticipated to boost the demand for cyber insurance in the BFSI sector.
Impact of COVID-19 on Europe Cyber Insurance Market
The unprecedented COVID–19 outbreak offered tremendous growth opportunities to the Europe cyber insurance market. The pandemic induced the remote working culture in Europe, which resulted in a significant spike in the volumes of data and cyberattacks and data breaches. According to the European Union’s Cybersecurity Agency (ENISA), significant harmful attacks against important sectors more than quadrupled in Europe in 2020, from 146 in 2019 to 304 incidents. A cyberattack on the IT network of the Irish health service has resulted in a temporary suspension of operations. Cyberattacks also led to huge financial losses for the BFSI sector in 2020. All these results in a surge in demand for cyber insurance in the European market.
Competitive Landscape
Major players operating in the Europe Cyber Insurance market include Aon Plc., American International Group, Inc. (AIG), Allianz Group, Berkshire Hathaway, Inc., Lockton Companies, Inc., Chubb Limited, Munich Re Group, AXA XL SA, Zurich Insurance Group, and Lloyd’s Group of London Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Europe Cyber Insurance Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Europe Cyber Insurance Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Table of Contents

190 Pages
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Executive Summary
3. Europe Cyber Insurance Market Insights
3.1. Industry Value Chain Analysis
3.2. DROC Analysis
3.2.1. Growth Drivers
3.2.1.1. Rising Frequency and sophistication of Cyber threats
3.2.1.2. Growing Rate of recovery of financial losses to promote market growth
3.2.1.3. Rising Cyber Attacks and Data breaches
3.2.2. Restraints
3.2.2.1. Lack of Standardized Policies
3.2.2.2. High Premium Cost
3.2.3. Opportunities
3.2.3.1. Expansion of products & services
3.2.3.2. Untapped potential of Emerging Economies
3.2.4. Challenges
3.2.4.1. Data Privacy Concerns
3.2.4.2. Lack of understanding, technical knowledge
3.3. Technology Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter’s Five Forces Analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Rivalry
4. Europe Cyber Insurance Market Overview
4.1. Market Size & Forecast by Value, 2019−2029
4.1.1. By Value (USD Million)
4.2. Market Share & Forecast
4.2.1. By Component
4.2.1.1. Solution
4.2.1.2. Services
4.2.2. By Insurance Type
4.2.2.1. Standalone
4.2.2.2. Tailored
4.2.3. By Organization Size
4.2.3.1. Large Enterprises
4.2.3.2. Small & Medium Sized Enterprises
4.2.4. By Application
4.2.4.1. Banking & Financial Services
4.2.4.2. IT & Telecom
4.2.4.3. Healthcare
4.2.4.4. Retail
4.2.4.5. Others
4.2.5. By Country
4.2.5.1. Germany
4.2.5.2. UK
4.2.5.3. Italy
4.2.5.4. France
4.2.5.5. Spain
4.2.5.6. The Netherlands
4.2.5.7. Belgium
4.2.5.8. Nordic Countries
4.2.5.9. Rest of Europe
5. Germany Cyber Insurance Market Overview
5.1. Market Size & Forecast by Value, 2019−2029
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Component
5.2.2. By Insurance Type
5.2.3. By Organization Size
5.2.4. By Application
6. UK Cyber Insurance Market Overview
6.1. Market Size & Forecast by Value, 2019−2029
6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
6.2.1. By Component
6.2.2. By Insurance Type
6.2.3. By Organization Size
6.2.4. By Application
7. Italy Cyber Insurance Market Overview
7.1. Market Size & Forecast by Value, 2019−2029
7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
7.2.1. By Component
7.2.2. By Insurance Type
7.2.3. By Organization Size
7.2.4. By Application
8. France Cyber Insurance Market Overview
8.1. Market Size & Forecast by Value, 2019−2029
8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
8.2.1. By Component
8.2.2. By Insurance Type
8.2.3. By Organization Size
8.2.4. By Application
9. Spain Cyber Insurance Market Overview
9.1. Market Size & Forecast by Value, 2019−2029
9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
9.2.1. By Component
9.2.2. By Insurance Type
9.2.3. By Organization Size
9.2.4. By Application
10. The Netherland Cyber Insurance Market Overview
10.1. Market Size & Forecast by Value, 2019−2029
10.1.1. By Value (USD Million)
10.2. Market Share & Forecast
10.2.1. By Component
10.2.2. By Insurance Type
10.2.3. By Organization Size
10.2.4. By Application
11. Belgium Cyber Insurance Market Overview
11.1. Market Size & Forecast by Value, 2019−2029
11.1.1. By Value (USD Million)
11.2. Market Share & Forecast
11.2.1. By Component
11.2.2. By Insurance Type
11.2.3. By Organization Size
11.2.4. By Application
12. NORDIC Countries Cyber Insurance Market Overview
12.1. Market Size & Forecast by Value, 2019−2029
12.1.1. By Value (USD Million)
12.2. Market Share & Forecast
12.2.1. By Component
12.2.2. By Insurance Type
12.2.3. By Organization Size
12.2.4. By Application
13. Rest of Europe Cyber Insurance Market Overview
13.1. Market Size & Forecast by Value, 2019−2029
13.1.1. By Value (USD Million)
13.2. Market Share & Forecast
13.2.1. By Component
13.2.2. By Insurance Type
13.2.3. By Organization Size
13.2.4. By Application
14. Competitive Landscape
14.1. List of Key Players and Their Offerings
14.2. Europe Cyber Insurance Company Market Share Analysis, 2022
14.3. Competitive Benchmarking, By Operating Parameters
14.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
15. Impact of Covid-19 on Europe Cyber Insurance Market
16. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
16.1. Aon Plc.
16.2. American International Group, Inc. (AIG)
16.3. Allianz Group
16.4. Berkshire Hathaway, Inc.
16.5. Lockton Companies, Inc.
16.6. Chubb Limited
16.7. Munich Re Group
16.8. AXA XL SA
16.9. Zurich Insurance Group
16.10. Lloyd’s Group of London Ltd.
16.11. Other Prominent Players
17. Key Strategic Recommendations
18. Research Methodology
18.1. Qualitative Research
18.1.1. Primary & Secondary Research
18.2. Quantitative Research
18.3. Market Breakdown & Data Triangulation
18.3.1. Secondary Research
18.3.2. Primary Research
18.4. Breakdown of Primary Research Respondents, By Region
18.5. Assumption & Limitation
*Financial information in case of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of
Figure
Figure 1 Europe Cyber Insurance Market Segmentation
Figure 2 Europe Cyber Insurance Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 Europe Cyber Insurance Market Size, By Value (USD Billion), 2019–2029
Figure 5 Europe Cyber Insurance Market Share, By Component, By Value, 2019–2029
Figure 6 Europe Cyber Insurance Market Share, By Insurance Type, By Value, 2019–2029
Figure 7 Europe Cyber Insurance Market Share, By Organization Size, By Value, 2019–2029
Figure 8 Europe Cyber Insurance Market Share, By Application, By Value, 2019–2029
Figure 9 Europe Cyber Insurance Market Share, By Country, By Value, 2019–2029
Figure 10 Germany Cyber Insurance Market Size, By Value (USD Billion), 2019−2029
Figure 11 Germany Cyber Insurance Market Share, By Component, By Value, 2019−2029
Figure 12 Germany Cyber Insurance Market Share, By Insurance Type, By Value, 2019−2029
Figure 13 Germany Cyber Insurance Market Share, By Organization Size, By Value, 2019−2029
Figure 14 Germany Cyber Insurance Market Share, By Application, By Value, 2019−2029
Figure 15 UK Cyber Insurance Market Size, By Value (USD Billion), 2019−2029
Figure 16 UK Cyber Insurance Market Share, By Component, By Value, 2019−2029
Figure 17 UK Cyber Insurance Market Share, By Insurance Type, By Value, 2019−2029
Figure 18 UK Cyber Insurance Market Share, By Organization Size, By Value, 2019−2029
Figure 19 UK Cyber Insurance Market Share, By Application, By Value, 2019−2029
Figure 20 Italy Cyber Insurance Market Size, By Value (USD Billion), 2019−2029
Figure 21 Italy Cyber Insurance Market Share, By Component, By Value, 2019−2029
Figure 22 Italy Cyber Insurance Market Share, By Insurance Type, By Value, 2019−2029
Figure 23 Italy Cyber Insurance Market Share, By Organization Size, By Value, 2019−2029
Figure 24 Italy Cyber Insurance Market Share, By Application, By Value, 2019−2029
Figure 25 France Cyber Insurance Market Size, By Value (USD Billion), 2019−2029
Figure 26 France Cyber Insurance Market Share, By Component, By Value, 2019−2029
Figure 27 France Cyber Insurance Market Share, By Insurance Type, By Value, 2019−2029
Figure 28 France Cyber Insurance Market Share, By Organization Size, By Value, 2019−2029
Figure 29 France Cyber Insurance Market Share, By Application, By Value, 2019−2029
Figure 30 Spain Cyber Insurance Market Size, By Value (USD Billion), 2019−2029
Figure 31 Spain Cyber Insurance Market Share, By Component, By Value, 2019−2029
Figure 32 Spain Cyber Insurance Market Share, By Insurance Type, By Value, 2019−2029
Figure 33 Spain Cyber Insurance Market Share, By Organization Size, By Value, 2019−2029
Figure 34 Spain Cyber Insurance Market Share, By Application, By Value, 2019−2029
Figure 35 The Netherlands Cyber Insurance Market Size, By Value (USD Billion), 2019−2029
Figure 36 The Netherlands Cyber Insurance Market Share, By Component, By Value, 2019−2029
Figure 37 The Netherlands Cyber Insurance Market Share, By Insurance Type, By Value, 2019−2029
Figure 38 The Netherlands Cyber Insurance Market Share, By Organization Size, By Value, 2019−2029
Figure 39 The Netherlands Cyber Insurance Market Share, By Application, By Value, 2019−2029
Figure 40 Belgium Cyber Insurance Market Size, By Value (USD Billion), 2019−2029
Figure 41 Belgium Cyber Insurance Market Share, By Component, By Value, 2019−2029
Figure 42 Belgium Cyber Insurance Market Share, By Insurance Type, By Value, 2019−2029
Figure 43 Belgium Cyber Insurance Market Share, By Organization Size, By Value, 2019−2029
Figure 44 Belgium Cyber Insurance Market Share, By Application, By Value, 2019−2029
Figure 45 NORDIC Countries Cyber Insurance Market Size, By Value (USD Billion), 2019−2029
Figure 46 NORDIC Countires Cyber Insurance Market Share, By Component, By Value, 2019−2029
Figure 47 NORDIC Countires Cyber Insurance Market Share, By Insurance Type, By Value, 2019−2029
Figure 48 NORDIC Countires Cyber Insurance Market Share, By Organization Size, By Value, 2019−2029
Figure 49 NORDIC Countires Cyber Insurance Market Share, By Application, By Value, 2019−2029
Figure 50 Rest of Europe Cyber Insurance Market Size, By Value (USD Billion), 2019−2029
Figure 51 Rest of Europe Cyber Insurance Market Share, By Component, By Value, 2019−2029
Figure 52 Rest of Europe Cyber Insurance Market Share, By Insurance Type, By Value, 2019−2029
Figure 53 Rest of Europe Cyber Insurance Market Share, By Organization Size, By Value, 2019−2029
Figure 54 Rest of Europe Cyber Insurance Market Share, By Application, By Value, 2019−2029
List of
Table
Table 1 Europe Cyber Insurance Market Size, By Component Type, By Value, 2019–2029
Table 2 Europe Cyber Insurance Market Size, By Insurance Type, By Value, 2019–2029
Table 3 Europe Cyber Insurance Market Size, By Organization Size, By Value, 2019–2029
Table 4 Europe Cyber Insurance Market Size, By Application, By Value, 2019–2029
Table 5 Europe Cyber Insurance Market Size, By Country, By Value, 2019–2029
Table 6 Germany Cyber Insurance Market Size, By Component, By Value, 2019−2029
Table 7 Germany Cyber Insurance Market Size, By Insurance Type, By Value, 2019−2029
Table 8 Germany Cyber Insurance Market Size, By Organization Size, By Value, 2019−2029
Table 9 Germany Cyber Insurance Market Size, By Application, By Value, 2019−2029
Table 10 UK Cyber Insurance Market Size, By Component, By Value, 2019−2029
Table 11 UK Cyber Insurance Market Size, By Insurance Type, By Value, 2019−2029
Table 12 UK Cyber Insurance Market Size, By Organization Size, By Value, 2019−2029
Table 13 UK Cyber Insurance Market Size, By Application, By Value, 2019−2029
Table 14 Italy Cyber Insurance Market Size, By Component, By Value, 2019−2029
Table 15 Italy Cyber Insurance Market Size, By Insurance Type, By Value, 2019−2029
Table 16 Italy Cyber Insurance Market Size, By Organization Size, By Value, 2019−2029
Table 17 Italy Cyber Insurance Market Size, By Application, By Value, 2019−2029
Table 18 France Cyber Insurance Market Size, By Component, By Value, 2019−2029
Table 19 France Cyber Insurance Market Size, By Insurance Type, By Value, 2019−2029
Table 20 France Cyber Insurance Market Size, By Organization Size, By Value, 2019−2029
Table 21 France Cyber Insurance Market Size, By Application, By Value, 2019−2029
Table 22 Spain Cyber Insurance Market Size, By Component, By Value, 2019−2029
Table 23 Spain Cyber Insurance Market Size, By Insurance Type, By Value, 2019−2029
Table 24 Spain Cyber Insurance Market Size, By Organization Size, By Value, 2019−2029
Table 25 Spain Cyber Insurance Market Size, By Application, By Value, 2019−2029
Table 26 The Netherlands Cyber Insurance Market Size, By Component, By Value, 2019−2029
Table 27 The Netherlands Cyber Insurance Market Size, By Insurance Type, By Value, 2019−2029
Table 28 The Netherlands Cyber Insurance Market Size, By Organization Size, By Value, 2019−2029
Table 29 The Netherlands Cyber Insurance Market Size, By Application, By Value, 2019−2029
Table 30 Belgium Cyber Insurance Market Size, By Component, By Value, 2019−2029
Table 31 Belgium Cyber Insurance Market Size, By Insurance Type, By Value, 2019−2029
Table 32 Belgium Cyber Insurance Market Size, By Organization Size, By Value, 2019−2029
Table 33 Belgium Cyber Insurance Market Size, By Application, By Value, 2019−2029
Table 34 NORDIC Countires Cyber Insurance Market Size, By Component, By Value, 2019−2029
Table 35 NORDIC Countires Cyber Insurance Market Size, By Insurance Type, By Value, 2019−2029
Table 36 NORDIC Countires Cyber Insurance Market Size, By Organization Size, By Value, 2019−2029
Table 37 NORDIC Countires Cyber Insurance Market Size, By Application, By Value, 2019−2029
Table 38 Rest of Europe Cyber Insurance Market Size, By Component, By Value, 2019−2029
Table 39 Rest of Europe Cyber Insurance Market Size, By Insurance Type, By Value, 2019−2029
Table 40 Rest of Europe Cyber Insurance Market Size, By Organization Size, By Value, 2019−2029
Table 41 Rest of Europe Cyber Insurance Market Size, By Application, By Value, 2019−2029
Table 42 Aon Plc. Company Overview
Table 43 Aon Plc. Financial Overview
Table 44 American International Group, Inc. (AIG) Company Overview
Table 45 American International Group, Inc. (AIG) Financial Overview
Table 46 Allianz Group Company Overview
Table 47 Allianz Group Financial Overview
Table 48 Berkshire Hathaway, Inc. Company Overview
Table 49 Berkshire Hathaway, Inc. Financial Overview
Table 50 Lockton Companies, Inc. Company Overview
Table 51 Lockton Companies, Inc. Financial Overview
Table 52 Chubb Limited Company Overview
Table 53 Chubb Limited Financial Overview
Table 54 Munich Re Group Company Overview
Table 55 Munich Re Group Financial Overview
Table 56 AXA XL SA Company Overview
Table 57 AXA XL SA Financial Overview
Table 58 Zurich Insurance Group Company Overview
Table 59 Zurich Insurance Group Financial Overview
Table 60 Lloyd’s Group of London Ltd Company Overview
Table 61 Lloyd’s Group of London Ltd Financial Overview

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us