25 percent of financial institutions suffered a breach in 2011—within insurance, that percentage is even higher—making security is a top priority for the financial services industry, according to Deloitte’s “2012 Global Financial Services Industry Security Study.”
Organizations surveyed said they are “more proactive in implementing innovative security measures and creating greater awareness within their business,” despite the costs of improved security initiatives, Deloitte said in a press release.
Other insurance-related highlights include:
Deloitte also found that Insurers are “bracing for the impact of more stringent consumer financial laws as well as the risks associated with newer technologies to meet the growing demand for virtual operations.”
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