A recent report by QBE North America, in collaboration with Zywave, revealed that many businesses are overlooking additional risk management services included in their cyber insurance policies, underscoring the need for greater awareness to enhance cyber resilience.
The report surveyed risk professionals and insurance buyers from large organisations, with nearly half of the respondents having revenues exceeding $1 billion.
The findings show that only 40% of respondents utilise the extra risk management services offered through their cyber insurance policies, such as workshops, security assessments, and network scanning tools.
Additionally, only half of the respondents (50%) were aware of these services, suggesting that awareness plays a key role in businesses taking advantage of them. This indicates that more efforts are needed to raise awareness about these resources.
Serene Davis, Global Head of Cyber at QBE, noted, “The survey findings highlight the critical role cyber insurance plays in today’s business landscape, but they also reveal significant gaps in how these policies are utilised.”
She continued, “Our industry needs to close these gaps by improving engagement…
