80 percent of companies don't have sufficient cyber insurance

According to a new report, 80 percent of insured companies that have suffered a data breach didn't have sufficient coverage for the incident. The study, from cybersecurity optimization platform CYE, finds the average coverage gap is 350 percent, which means that more than 75 percent of the incident was not covered. In some cases, the maximum insurance gap is as high as 3,000 percent. Low tech sectors including accommodation and food services, construction, transportation and warehousing are among the more adequately covered ones, while sectors like finance and insurance, information and manufacturing present well beyond a 100 percent gap in… [Continue Reading]