“Insurance against cyber attacks now absolutely vital” claim business leaders in extensive NTT Com Security survey
While the majority of global organisations say that it’s now ‘vital’ their operations are insured against information security breaches, less than half (41%) are fully covered for both security breaches and data loss, while just over a third have dedicated cyber security insurance in place.
These are the key findings of the 2016 Risk:Value report produced by NTT Com Security, the global information security and risk management company, which examines business’ present attitudes towards cyber security and risk.
Research conducted among no less than 1,000 non-IT business decision-makers representing organisations across the UK, the US, Germany, France, Sweden, Norway and Switzerland reveals that one-in-ten (12%) have no insurance cover at all for either eventuality. This is despite the fact that most business decision-makers admit there’s now an increased cyber security threat, and that the cost of an organisation recovering from an attack in the digital realm could start from the ball park figure of around £1.2 million.