Continued and sustained cyber-attacks are having a ruinous effect on enterprises and driving up the cost of incident response. With over 900 million reported records exposed in 2014, more companies are seriously starting to consider transferring risks to insurance providers.
Despite growing awareness of vulnerability to breaches and risk management strategies however, less than 20% of large enterprises avail themselves of cyber insurance. For small- and medium-sized enterprises, the percentage is even lower, at less than 6%, according to ABI Research.
