Fewer British firms have cyber insurance
Thursday, 10 06 2016, Category: Technology, Country: United Kingdom
The number of British firms insured against cyber threats has fallen sharply in the past year even though many doubled their security budgets after some high-profile companies suffered attacks, a survey by PwC showed on Wednesday.
The auditing and corporate advisory firm said companies were reluctant to invest in cyber insurance because they viewed products available as inadequate.
PwC interviewed 479 executives at British companies and only 38 percent said their company had a cyber insurance policy, down from 59 percent in a similar survey a year ago.