SCHAUMBURG, Ill., Oct. 3, 2019 /PRNewswire/ — Zurich Insurance has released the ninth annual Advisen cyber survey of corporate risk managers and insurance buyers revealing current views about information security and cyber risk management. A key finding of the 2019 survey is that business interruptions due to cyber events are a top concern. That concern is driving a desire for increased cyber business interruption availability and limits.
- 82 percent of respondents stated that cyber risk has become a significant concern across their entire organizations.
- 95 percent of respondents said that they expect business interruption to be covered under their cyber policies in the event of a claim.
- 75 percent reported that they expect contingent business interruption to be covered, reflecting awareness that third-party cyber breaches affecting vendors can impact supply chains and vital services.
- 74 percent of insurance buyers who changed their cyber coverages in the last year did so to purchase higher limits than those provided by their prior policies.
“The cyber insurance marketplace is expanding and maturing to meet the increasing demands of corporations concerned…
