The latest report by MarkNtel Advisors, titled “UAE Cyber Insurance Market Report By Component (Solution (Cyber Insurance Analytics Platform, Disaster Recovery & Business Continuity, Cybersecurity Solutions), Service (Consulting/Advisory, Security Awareness Training, Other Services)), By Coverage (First Party (Theft and Fraud, Computer Program and Electronic Restoration, Extortion, Forensic Investigation, Business Interruption), Third Party (Crisis Management, Credit Monitoring, Regulatory Response, Privacy and Security Liability, Network Security Liability, Media and Communication Liability)), By Insurance Type (Packed, Standalone), By Organization Size (Large Enterprises, Small & Medium-Sized Enterprise), By End-User (BFSI, IT & Telecom, Defense, Energy & Power, Retail, Healthcare, Others) other and Region 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the UAE Cyber Insurance Market research report.
What is the market outlook for UAE Cyber Insurance?
The UAE Cyber Insurance Market size is estimated to grow at a CAGR of around 25.6% during the forecast period 2023–28.
For an in-depth analysis, you can request a sample copy of the report: https://www.marknteladvisors.com/query/request-sample/uae-cyber-insurance-market.html
Major Companies Operating in the UAE Cyber Insurance Industry:
Lloyd, Berkshire Hathaway, AXA, Allianz, Assicurazioni Generali, Munich Re, Cyence, PolicyGenius, Safeshare
UAE Cyber Insurance Market Report Segmentation:
By Component
-Solution
-Cyber Insurance Analytics Platform
-Disaster Recovery and Business Continuity
-Cybersecurity Solutions
-Service
-Consulting/Advisory
-Security Awareness Training
-Other Services
By Coverage
-First Party
–Theft and Fraud
–Computer Program and Electronic Restoration
–Extortion
–Forensic Investigation
–Business Interruption
-Third Party
–Crisis Management
–Credit Monitoring
–Regulatory Response
–Privacy and Security Liability
–Network Security Liability
–Media and Communication Liability
By Insurance Type
-Packed
-Standalone
- Of both, standalone policies hold a notable share of the UAE Cyber Insurance Market.
By Organization Size
-Large Enterprises
-Small & Medium Sized Enterprise
By End-User
-BFSI
-IT & Telecom
-Defence
-Energy & Power
-Retail
-Healthcare
-Others
Learn More About the Market Report – https://www.marknteladvisors.com/research-library/uae-cyber-insurance-market.html
Regional Insights:
By Country
-Dubai
-Abu Dhabi
-Sharjah
-Rest of UAE
Key Driver: Increasing Instances of Cyberattacks & Data Breaches in the UAE
The rapid digitalization in businesses across the UAE has resulted in an astronomical surge in the incidences of data breaches & cybercrimes. Many sectors like BFSI, retail, and healthcare are becoming the most attractive target for attackers due to the large volume of sensitive customer data within these sectors. Additionally, the increasing adoption of online shopping, mobile banking, Electronic Medical Records (EMRs) is another crucial aspect that proliferates the risk of data breaches in these industries. Hence, the increasing number of cybercrimes is likely to propel the demand for cyber insurance in the year to come.
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