Benchmarking Trends: More Companies Purchasing Cyber Insurance

Limits purchased increased significantly in 2012, driven by greater awareness of cyber risks and clarification by underwriters of the scope of cyber and related insurance policies.

More insurance buyers view cyber coverage as an essential purchase rather than a discretionary one.

Awareness of cyber and privacy risks continues to grow, leading to a substantial increase in the number of companies now purchasing cyber insurance. Limits purchased also increased significantly in 2012, driven by greater awareness of cyber risks and clarification by underwriters of the scope of cyber and related insurance policies. Though the overall market for cyber insurance appears flat, market conditions varied significantly by company size.