Cybersecurity Insurance Lacking at 50% of US Companies

Cybersecurity Insurance Lacking at 50% of US Companies

While half of US security professionals say their companies passed on cybersecurity insurance, the figure is far higher in healthcare, according to a survey released today.

Cybersecurity is ramping up attention across corporate America, but only 50% of US security professionals surveyed say their organizations have signed up with an insurer, according to a study released today by FICO.

Future plans for purchasing cybersecurity insurance in the US also remains grim, according to the survey, which included 350 security executives from across the globe. including the US, Canada, UK, and the Nordics. The survey found that 27% of InfoSec pros in the US report that their organizations have no plans to sign up for cybersecurity insurance.

Meanwhile, although 61% of survey respondents expect the level of attempted breaches to rise next year, only 16% of US companies have cybersecurity insurance that covers all risks, the survey found.

In the healthcare industry, the situation is far more stark. It turns out that 74% of security healthcare professionals say their organizations do not carry cybersecurity insurance. And on top of that, none of these healthcare organizations have insurance that would span all cybersecurity risks.

Read more about the FICO study here. (Registration required)

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