Buyers settle for expensive cyber insurance with low coverage
Posted On: Sep. 1, 2021 10:20 AM CSTAccording to insurance broker Arthur J. Gallagher & Co., cyber insurers are either refusing to cover or they are raising rates by as much as 300% on business clients that do not have adequate data security controls in place, Commercial Risk reported. As a result, most businesses have been forced to purchase cyber insurance at much higher rates and with reduced coverage.