BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Half of risk managers buying stand-alone cyber insurance

Half of risk managers buying stand-alone cyber insurance

Slightly more than half of risk managers now purchase stand-alone cyber insurance policies, most carrying less than $20 million in coverage, according to a survey by the Risk & Insurance Management Society Inc. released Monday.

According to the online survey, which polled 284 RIMS members in May, 51% of respondents purchased stand-alone cyber insurance policies when asked if they have a cyber policy. However, 74% of those who do not have cyber coverage are considering obtaining it within the next 12-24 months, according to the survey.

A total of 58% of those with cyber insurance policies carry less than $20 million in cyber coverage, while 49% of those with the coverage pay more than $100,000 in premium, according to the survey by New York-based RIMS.

Respondents also reported that the top three first-party cyber exposures are reputational harm, business interruption and data breach response and notification.

Read Next