A new survey has revealed that a very large percentage of businesses have filed against their policies. When it comes to business coverage, cyber insurance has been increasing quite rapidly in popularity as a results of the many high profile data breaches that have occurred over the last few years. Unfortunately, while coverage is more common, it’s also being used quite a bit by the companies that have it. While the idea behind buying a policy is usually to get it just in case, while hoping that it will never…
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Cyber insurance became increasingly popular last year
A Marsh study showed that the demand for this protection increased considerably in 2012. According to a report issued by Marsh Inc., the broker and risk adviser, the demand for coverage with cyber liability insurance increased as a growing number of businesses purchased the protection. The average policy limits that were taken out also increased during last year, said the report. The number of clients of FINPRO at Marsh that took out cyber insurance last year increased by 33.3 percent over the number from the year before. This, according to…
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