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International

Nearly two thirds of companies lack cyber insurance: Report

September 04, 2018 Reprints

A report by IT security firm NTT Security (UK) Ltd. found that about two-thirds of local companies are not insured against data breaches and losses, Information Age reported. The report found that U.K. businesses need to spend £1 million ($1.3 million) on average to recover from a data breach. Matthew McKenna, official at U.S.-based cyber security firm SecurityScorecard Inc., said that lack of clarity about the risks covered under cyber policies has hampered cyber insurance uptake.

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Nearly two thirds of companies lack cyber insurance: Report

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