Fifty percent of U.S. businesses have either purchased cyber insurance for the first time or increased their level of coverage in the last year, according to a survey of risk managers by The Hartford Steam Boiler Inspection and Insurance Co. (HSB).
At the same time, 30 percent of businesses do not have any level of cyber insurance coverage. The risk managers cite its perceived complexity (44 percent), lack of a sufficient threat (34 percent) and cost (22 percent) as the primary reasons for not buying coverage.
