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TMCNet:  UK Cyber Insurance Market report 2017 Featuring AIG, Zurich, Aviva, Hiscox - Research and Markets

[April 07, 2017]

UK Cyber Insurance Market report 2017 Featuring AIG, Zurich, Aviva, Hiscox - Research and Markets

Research and Markets has announced the addition of the "UK Cyber Insurance 2017" report to their offering.

It is estimated that fraud and cyber offenses make up 47.3% of all crime according to the Crime Survey of England and Wales conducted by the Office for National Statistics (ONS). Cyber insurance penetration is increasing. 13.7% of UK SMEs held cyber insurance in 2016, compared to 2.1% in 2014. The average total organizational cost of a data breach is increasing. In the UK it rose by 14.5% from $3.45m to $3.95m from 2014 to 2016 according to the Ponemon Institute (News - Alert).

The report UK Cyber Insurance 2017 discusses the growing need for cyber insurance and highlights product uptake among UK businesses. It explores how cyber insurance fits within a commercial insurance portfolio and examines the products offered by key market players. It demonstrates how the insurance sector can help improve understanding of cyber insurance, and how insurers and brokers can help promote the adoption of good practice to reduce the frequency and cost of breaches. The report will also discuss the most significant market develoments over the past 12 months and how the sector is likely to develop in the future in reference to new initiatives and regulation.

Scope:

  • It is estimated that fraud and cyber offenses make up 47.3% of all crime according to the Crime Survey of England and Wales conducted by the Office for National Statistics.
  • Cyber insurance penetration is increasing. 13.7% of UK SMEs held cyber insurance in 2016, compared to 2.1% in 2014.
  • The average total organizational cost of a data breach is also increasing. In the UK it rose by 14.5% from $3.45m in 2014 to $3.95m in 2016 according to the Ponemon Institute.

Key Topics Covered:

1. EXECUTIVE SUMMARY

  • The UK cyber insurance market is still evolving
  • Key findings
  • Critical success factors

2. THE GROWING NEED FOR CYBER INSURANCE

  • Introduction
  • Cybercrime is becoming an increasing risk for businesses
  • All businesses are vulnerable to cybercrime
  • There have been many recent high-profile cyber-attacks

3. CYBER INSURANCE WITHIN THE COMMERCIAL MARKET

  • Cyber insurance is still evolving as a product
  • A number of insurers provide cyber insurance
  • The claims landscape is constantly evolving with cyberspace

4. THE FUTURE OF CYBER INSURANCE AND SECURITY

  • The cyber insurance market will continue to grow
  • The UK government is committed to tackling cybercrime
  • The EU's GDPR will come into force in 2018, and will modernize data protection
  • Cyber insurance will expand into personal lines

5. APPENDIX

For more information about this report visit http://www.researchandmarkets.com/research/gsxn6k/uk_cyber


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