The legal consequences of cyberattacks, such as class-action lawsuits on behalf of victim third-parties, are a growing worry of business owners, and businesses without cyber insurance are vulnerable to cybercrime and any consequential litigation, according to Solace Insurance.
Fortune 1,000 firms in the health care, technology and insurance sectors top the list of industry groups most concerned about cyber threats, according to a recent report by Willis North America, a unit of Willis Group Holdings.
Despite cyber risks being ranked as an equal or worse financial threat than natural disasters, companies continue to neglect to source cyber security insurance, according to a new Ponemon study.
A new Ponemon survey shows that many risk management leaders remain skeptical over the value of cyber insurance, but 30 percent of those companies who have it have already submitted a claim.
Aon Corp. has sold more cyber insurance products in the last year and a half than the five years prior combined, marking an upward trend in enterprises' awareness of cyber threats.