According to a new cyber insurance market survey, only 39% of risk and finance managers polled said they purchase cyber insurance. Ironically, only 13% of non-buyers believed that their firm is safe from serious cyber threats.
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Carriers offering cyber insurance may have seen an increase in demand for their specialty insurance policies over the past year, but more than 60 percent of risk managers surveyed say they still don’t buy the coverage, according to a report from Towers Watson.
The annual Risk and Finance Manager Survey conducted by the global professional services company revealed that only 39 percent of respondents purchased network security/privacy liability policies. Viewing the results from the perspective of P/C carriers, a positive trend revealed by the survey was the fact that the 39 percent represented an 11-percentage-point rise over the prior year’s survey.