Only half of U.S. firms have cyber insurance, fewer than in U.K., Canada
About half of U.S. businesses say they don’t have cyber risk insurance, compared to fewer than a third in the U.K. and Canada, and the health care sector is lagging the worst, according to a recent survey. The data, released by credit-scoring and data analytics giant FICO and market researchers Ovum, comes from a telephone survey of IT and security executives from a broad range of companies in the financial services, media, e-commerce and retail, telecommunications and health care sectors in North America and northwestern Europe. The 350 companies ranged in size from fewer than 1,000 employees (30 percent) to over 10,000 (25 percent) with nearly half of them (45 percent) somewhere in between. Half of U.S. businesses report having cyber insurance, although only about a third of those (16 percent of the whole sample) are confident that it covers all their risks. Just under a quarter more (23 percent) reported plans to buy insurance […]
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