Almost half of all U.S. companies lack cyber-attack insurance, according to a report released today. That’s slightly better than the global average.
Bloomfield based NTT Com Security (formerly Integralis), a global information security and risk management organization, said its research shows while the majority of global organizations say that it is “vital” their organization is insured against information security breaches, less than half (41 percent) are fully covered for both security breaches and data loss and just over a third have dedicated cybersecurity insurance.
The report said of the countries polled, 49 percent of the U.S. companies surveyed currently do not have insurance specifically for cyber security attacks. This is according to the 2016 Risk:Value report looking at attitudes to cybersecurity and risk.
Research among 1,000 non-IT business decision makers in organizations in the UK, U.S., Germany, France, Sweden, Norway and Switzerland reveals that 12 percent have no insurance coverage at all for either eventuality. This is despite most business decision makers admitting that there is an increased cyber-security threat, and that the cost of recovering from such an attack could start from around $1 million.
