Dublin, May 30, 2025 (GLOBE NEWSWIRE) -- The "UK Cyber (Liability) Insurance - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025-2030)" report has been added to ResearchAndMarkets.com's offering.
The UK Cyber Insurance Market size in terms of premium value is expected to grow from USD 1.53 billion in 2025 to USD 2.87 billion by 2030, at a CAGR of 13.4% during the forecast period (2025-2030).
UK Cyber Insurance Market Trends
Impact of Cyber Insurance Policy Coverage
Until recently, cyber insurance products covering business interruption losses and physical damage were only offered by a few insurers. Now, however, 96% of insurers cover business interruption losses, and an increasing number of insurers are also offering coverage for first-party losses. Coverage is continually changing and expanding to reflect the dynamic nature of cyber risks and trends. As the variety of cyber incidents and types of losses that cyber insurance increases can cover, the benefit to UK businesses of investing in cyber insurance will also likely increase.
Cyber insurers and brokers are also becoming better able to understand a particular company's insurance needs, tailoring cover appropriately. Some cyber insurance policies may require the insured organization to meet specific cybersecurity standards or demonstrate improvements in security practices. Failing to meet these requirements could affect coverage.
Impact of Disruptive Cyber Security Breach for Businesses
Cyber insurance policies typically have coverage limits that may not fully cover the costs associated with a severe breach. Businesses may still be responsible for covering certain expenses beyond the policy limits. Most cyber insurance policies have deductibles, which means the business must pay a certain amount out of pocket before the insurance coverage kicks in. The size of the deductible can significantly impact the financial burden on the organization. Even with cyber insurance, a major data breach can harm a business's reputation.
Customers and partners may lose trust in the organization, leading to a loss of business and long-term damage. Cyber insurance may cover certain legal expenses and fines resulting from a breach, but not all costs may be covered. Regulatory fines and legal settlements can still have a significant financial impact on the organization. Cyber insurance can help cover the costs of incident response, forensic investigations, and recovery efforts. However, the full extent of these costs can be challenging to predict, and insurance may only cover some aspects.
UK Cyber Insurance Industry Overview
The UK cyber insurance landscape was characterized by a mix of established insurance giants, specialized cyber insurers, insurtech startups, and intermediaries working together to address the growing demand for cyber liability coverage. The market's competitive nature was driving innovation in policy design and risk assessment methodologies to meet the unique challenges posed by cyber threats. Adoption of technological platforms and up-gradation to new technology leads to an increase in the threat of cybercrimes.
Innovation and technological advancement took pace as COVID-19 and urbanization struck general people to the adoption of cyber insurance to mitigate the risk of loss due to the threat of cybercrimes. Companies across the world have huge investments in this segment of the market. In the United Kingdom, the Cyber (liability) insurance market has many companies fragmented over minor shares. Swiss Re, Allianz, Beazley, Hiscox, Marsh, Tokio Marine Kiln, and AXA XL are among the cyber insurance companies.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Data Privacy Regulations
4.2.2 Business Interruption
4.3 Market Restraints
4.3.1 Complexity and Lack of Understanding
4.3.2 Cost of Coverage
4.4 Value Chain Analysis
4.5 Market Opportunities
4.6 Porter's Five Forces Analysis
4.7 Insights on Technological Innovations in the Market
4.8 Insights on Consumer Behavior Analysis
4.9 Government Regulation in Market
4.10 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Packaged
5.1.2 Standalone
5.2 By Application Type
5.2.1 Banking & Financial Services
5.2.2 IT & Telecom
5.2.3 Healthcare
5.2.4 Retail
5.2.5 Other Application Types
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 AIG
6.2.2 Allianz
6.2.3 Beazley
6.2.4 Hiscox
6.2.5 Marsh
6.2.6 Tokio Marine Kiln
6.2.7 AXA XL
6.2.8 CFC Underwriting
6.2.9 NIG
6.2.10 Zurich
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/chtk5v
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