Cyber insurance expansion stalling because of low uptake.
M2 EQUITYBITES-January 29, 2019--Cyber insurance expansion stalling because of low uptake
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Global Banking News - 29 January 2019
Expansion of cyber insurance in the US and Europe is stalling because customers are averse to buying such insurance despite often having had bad experiences with hackers.
A Spiceworks survey showed that only 38 percent of organisations in North America and Europe have an active cyber insurance policy. Of them, nearly 40 percent decided to adopt coverage because of the personal data they manage. Analysts feel that uptake could increase in the coming years, but added that customers are not buying the insurance because they are not aware of the benefits.
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