Companies Buying More Insurance Against Cyberattacks

Companies are getting smarter about protecting themselves from cyberattacks. New research has found that the number of companies purchasing cyberinsurance increased 33 percentage points over the past year. Several industries are driving that growth. Professional, business, legal, accounting and personal services firms grew by 76 percentage points across 2012. Companies in the education sector also protected themselves increasing cyberinsurance purchases by 72 percentage points, while financial institutions jumped 32 percentage points Small businesses are less likely than larger companies to be the victim of cybercrimes and as a result are paying less for cyberinsurance