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Benchmarking Trends: Interest in Cyber Insurance Continues to Climb
As cyber incidents increased in frequency and severity in 2013, the percentage of companies that purchased cyber insurance rose by double digits.
Recent high-profile data breaches, growing board-level concern, and the increasing vulnerability of operations to failure of technology appear to be influencing [cyber insurance] purchasing decisions.
Cyber issues are increasingly becoming more of a concern for companies that once felt they had relatively little exposure. The number of Marsh clients purchasing cyber insurance increased 21% from 2012 to 2013, with data-rich sectors such as financial institutions leading the way.
In “Benchmarking Trends: Interest in Cyber Insurance Continues to Climb,” we:
- Take a closer look at the penetration of cyber insurance across industries.
- Report on the average limits being purchased by companies of various sizes, and which industry sectors could be falling behind.
- Identify rates and coverage trends, including the emergence of coverage and increased caution among cyber insurance underwriters.
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