Monday, March 25, 2013

CAR INSURANCE Marsh: 33% more American companies buy cyber coverage

15 March 2013 |By Newsdesk

Average customer buying $ 16.8 m of protection, says broker
The number of American companies are buying insurance against cyber-attacks and data breaches increased by a third in 2012, according to insurance broker Marsh.
Companies in the services and education sectors led the way in terms of number of companies buy cyber coverage, said the Agency in a new report. CAR INSURANCE
Marsh noted also increase the amount of coverage is purchased. The average customer bought $ 16.8 m for cover in 2012, 20% on 2011 coverage levels. CAR INSURANCE
Communications, media and technology companies bought most coverage of all industries, purchase of average limits of $ 33.4 m in 2012. These companies also increased their coverage limits the most, almost 36% more coverage in 2012 then buy in 2011. CAR INSURANCE
Marsh's network security and privacy practices leader Bob Parisi said "awareness of cyber risks and privacy continues to grow, especially in the wake of a number of highly visible data breaches, hacking attacks, disputes and increased government focus on cyber security. CAR INSURANCE
"As a result, companies are looking to manage their daily cyber risks in the same way they more traditional risks – by purchasing the insurance."
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Title Post: CAR INSURANCE Marsh: 33% more American companies buy cyber coverage
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