Number of Companies Buying Cyber Insurance up by One-Third in 2012: Marsh
15 3월 2013 - 12:00AM
Business Wire
More companies are turning to cyber insurance to protect their
organizations from the financial consequences of a data breach or
cyber attack, according to a report issued today by Marsh. The
number of Marsh US clients purchasing cyber insurance increased 33%
in 2012 over 2011, with those in the services and educational
sectors leading the way.
Companies also are purchasing higher levels of cyber coverage,
according to the report, Benchmarking Trends: More Companies
Purchasing Cyber Insurance. Cyber insurance limits purchased in
2012 averaged $16.8 million across all industries, an increase of
nearly 20% over 2011. Communication, media, and technology
companies led all industries, both by average limits purchased —
$33.4 million — and the rate of increase over 2011, which was
nearly 36%.
“Awareness of cyber and privacy risks continue to grow,
especially in the wake of a number of highly visible data breaches,
hacking attacks, litigation, and increased government focus on
cyber security,” said Bob Parisi, Network Security and Privacy
Practice Leader for Marsh. “As a result, companies are now looking
to manage their day-to-day cyber risks in the same way they do more
traditional risks—through the purchase of insurance.”
According to the report, the services industry, which includes
professional, business, legal, accounting, and personal services
firms, experienced the largest uptick in the number of clients
purchasing cyber insurance — a 76% jump over 2011. This was
followed closely by the education sector, which experienced a 72%
rise and financial institutions, which experienced a 32% rise.
Overall rates for cyber insurance were essentially flat in the
fourth quarter of 2012, although market conditions varied
significantly by company size, the report found.
Smaller companies, where demand is great and competition among
insurers is strong, typically paid less for cyber coverage than
larger companies, which are experiencing more severe and frequent
claims.
To access the Benchmarking Trends: More Companies Purchasing
Cyber Insurance report visit: http://usa.marsh.com/NewsInsights/MarshRiskManagementResearch/ID/29870.aspx
About Marsh
Marsh, a global leader in insurance broking and risk management,
teams with its clients to define, design, and deliver innovative
industry-specific solutions that help them protect their future and
thrive. It has approximately 26,000 colleagues who collaborate to
provide advice and transactional capabilities to clients in over
100 countries. Marsh is a wholly owned subsidiary of Marsh &
McLennan Companies (NYSE: MMC), a global team of professional
services companies offering clients advice and solutions in the
areas of risk, strategy, and human capital. With over 53,000
employees worldwide and annual revenue exceeding $11 billion, Marsh
& McLennan Companies is also the parent company of Guy
Carpenter, a global leader in providing risk and reinsurance
intermediary services; Mercer, a global leader in talent, health,
retirement, and investment consulting; and Oliver Wyman, a global
leader in management consulting. Follow Marsh on Twitter
@Marsh_Inc.
Marsh’s Network Security and Privacy Practice has been a trusted
advisor to leading businesses for more than a decade. With a team
of 20 dedicated cyber advisory, placement, claims, and other
experts in the US, Marsh teams with clients to define their cyber
risks and design and deliver the most appropriate insurance program
to meet their evolving needs.
Marsh and McLennan Compa... (NYSE:MMC)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Marsh and McLennan Compa... (NYSE:MMC)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024