PORTLAND, Oregon and PUNE, India, December 5, 2016 /PRNewswire/ -- According to a new report published by Allied Market Research, titled, " Cyber Insurance Market -Global Opportunity Analysis and Industry Forecasts, 2014-2022" the global cyber insurance market is expected to generate $14 billion by 2022, growing at a CAGR of nearly 28% from 2016 to 2022. North America constituted the largest cyber insurance market share in 2015 and it would continue to dominate the market during the forecast period. Growth in the region is supplemented by enforcement of data protection regulations in U.S. Moreover, increase in levels of liability and legislative developments accelerate the market growth. (Logo: http://photos.prnewswire.com/prnh/20140911/647229 ) Summary of theCyber Insurance Market Report can be accessed on the website at:https://www.alliedmarketresearch.com/cyber-insurance-market Increase in awareness about cyber risks from boardroom to data centers owing to the rising number of cyber-attacks in the past 2-3 years is the prime factor that drives the market. However, complex and changing nature of cyber risks limits cyber insurance market growth. Low market penetration of cyber insurance policies in developing countries offers promising business opportunity for market players. The global cyber insurance market is segmented based on industry verticals, company size, and geography. Based on industry verticals, the market is segmented into healthcare, retail, financial services (BFSI), information technology and services, others (utilities, energy, manufacturing, construction, and transportation). BFSI and information technology sector were the early adopters of cyber liability insurance policies to protect their data. Although, as per the study, Healthcare vertical generates around one-third of the premium as these companies possess huge third-party data such as personal details of consumers, employment details and cyber criminals can easily misuse this data to make money. For instance, in U.S., around 78% of hospitals are secured under cyber insurance.