More corporates purchasing cyber insurance
Take-up of stand-alone cyber insurance has risen significantly in the past year, reports the US-based Risk Insurance Management Society.
Take-up of stand-alone cyber insurance has risen significantly in the past year, reports the US-based Risk Insurance Management Society.
Awareness, increased availability and contractual mandates are among the drivers behind a sharp rise in the number organisations purchasing stand-alone cyber insurance, reports the Risk Insurance Management Society (RIMS).
RIMS, a Manhattan, US-based non-profit international association, has issued its 2016 Cyber Survey, based on responses via the internet from 272 members. The survey includes the following findings:
“Failure to keep pace with technological advancements will leave an organisation at a terrible disadvantage,” said RIMS president Julie Pemberton.
“Embracing technology has enabled organisations to strengthen their performance, but, at the same time, has created many new exposures that risk management must address. The survey allows practitioners to benchmark the management of cyber exposures.”