Telematics Is Fastest Growing Segment Fueling The Growth Of Cyber Security Insurance Market
Cyber Security Insurance Market The global Cyber Security Insurance Market is estimated to be valued at US$ 13.62 Bn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Cyber security insurance protects businesses and individuals from internet-based risks and provides compensation for costs associated with cybercrimes such as data breach response expenses, business interruption loss, cyber extortion, and privacy liability. With increasing costs of cyber-attacks, cyber security insurance has become necessary for managing financial risks of cybercrimes and protecting assets from internet-based threats. Market key trends: Rise of IoT connected devices is one of the key drivers of the cyber security insurance market growth. Growing number of organizations are adopting Internet of Things (IoT) technology to connect their systems, machinery, and devices. However...