http://www.csoonline.com/article/738140/rise-in-data-breaches-drives-interest-in-cyber-insurance
By John P. Mello, Jr.
CSO Online
August 15, 2013
Growing awareness of cyber threats and reporting requirements by
regulators are driving a newfound interest in insurance products covering
data breaches and other computing risks.
Almost a third of companies (31 percent) already have cyber insurance
policies, and more than half (57 percent) that don't have policies say
they plan to buy one in the future, a recent study by the Ponemon
Institute and Experian Data Breach Resolution found.
"It's an issue that's much more front and center with senior executives in
companies now," Larry Ponemon, founder and chairman of the Ponemon
Institute, said in an interview.
"Data security may not be a top five issue with companies, but it's in the
top 10," he added.
Concern over cyber threats is so great that more than three quarters (76
percent) of the organizations participating in the study who had
experienced a security exploit ranked cyber security risks as high or
higher than other insurable risks, such as natural disasters, business
interruptions, fire and such.
[...]
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