Weighing up the cost of risk against the cost of coverage seems to be the perpetual dilemma of some insurance buyers.
In the case of cyber insurance, it would appear that concerns about the cost of coverage diminish once companies make the decision to purchase a policy. And the longer that policy has been held, the greater the satisfaction.
According to a recently released Ponemon study, only 31 percent of risk management professionals at companies surveyed say they have a cyber security insurance policy. However, among those companies that don’t have a policy, 57 percent say they plan to purchase one in future.