The IMARC Group recently published a new research study entitled “Cyber ??Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, provides a detailed analysis of market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

What are the growth prospects of the cyber insurance industry?

That The size of the global cyber insurance market reached $8.2 billion in 2021. Looking ahead, IMARC Group expects that the market will reach US$30.9 billion by 2027, which will represent a growth rate (CAGR) of 25.7% over the period 2022-2027.

What is cyber insurance?

Cyber ??Insurance is a service that protects businesses from digital threats such as malicious hacks, data breaches, malware, distributed denial of service (DDoS), malware and ransomware. It also provides financial protection for sensitive customer information, including credit cards, medical records, and Social Security, bank account, and driver’s license numbers. It notifies customers of cybersecurity incidents, recovers compromised data, restores their identities, and repairs damaged computer systems. Today, various insurers around the world offer personalized plans based on business needs. These plans cover legal costs and fees for property damage and loss of income.

Impact of COVID-19:

We regularly track the direct impact of COVID-19 on the market as well as the indirect impact of related industries. These observations are integrated into the report.

Get a PDF sample for more detailed market insights: https://www.imarcgroup.com/cyber-insurance-market/requestsample

What are the key market drivers in the cyber insurance market?

The increasing use of electronic devices to store data makes organizations more vulnerable to cyberattacks and data breaches. This is mainly affecting the demand for cyber insurance to cover costs, restart core operations and protect the…