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Daily Dashboard | Cyber Liability Insurance Awareness Is Growing Related reading: OPC details lessons learned from CRA, ESDC breaches

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Out-Law.com reports on a survey revealing that 60 percent of businesses do not have cyber liability insurance, but according to one expert, companies are becoming more aware of it. The Advisen survey report states that 52 percent of businesses not currently covered have no plans to gain the insurance in the next year. Pinsent Masons’ Ian Birdsey said, “When you consider the frequency, severity and exposure of security and data breaches,” it’s “surprising” that 52 percent are not considering the insurance. Birdsey noted that “the test remains whether advocates for data risks or cyber liability insurance cover at general counsel or chief privacy officer level can persuade their management teams to allocate budget to buy cover in the next financial year.”
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