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”.
Almost 80% of information technology professionals whose companies have cyber insurance have used it, and half of those have done so multiple times, says a survey.
However, less than half of those with the coverage reported their policies cover data recovery, according to 301 U.S.-based information technology professionals questioned in a survey conducted in August and September that was sponsored by Redwood City, California-based Delinea, a cybersecurity company.
In addition, 60% or more of policies do not cover costs related to victim identity and credit monitoring, incident response, hardware and software replacement, regulatory fines and third-party damage, according to the survey report.
A total of 70% said their policies do not provide for ransomware payment coverage.
More than half of the policies require employees to be trained in cybersecurity awareness, while just under 50% require malware protection, antivirus software, multifactor authentication and a backup strategy, the respondents said.
The survey also found that almost 70% of companies have cyber insurance or are in the process of getting it, while just under 20% are considering its purchase. Most companies were able to get the coverage in place in under three months. Of those who apply, 5% were denied.
A total of 75% reported their cyber insurance costs have increased since their last renewal, with 65% of those stating the increase was 50-100%.