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Thursday, 15 August 2013 15:17

Rise in Data Breaches Drives Interest in Cyber Insurance

CSO — Growing awareness of cyber threats and reporting requirements by regulators are driving a newfound interest in insurance products covering data breaches and other computing risks.

Almost a third of companies (31 percent) already have cyber insurance policies, and more than half (57 percent) that don't have policies say they plan to buy one in the future, a recent study by the Ponemon Institute and Experian Data Breach Resolution found.

"It's an issue that's much more front and center with senior executives in companies now," Larry Ponemon, founder and chairman of the Ponemon Institute, said in an  interview.

"Data security may not be a top five issue with companies, but it's in the top 10," he added.

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http://www.cio.com/article/738144/Rise_in_Data_Breaches_Drives_Interest_in_Cyber_Insurance