Cyber risks appear to be on the rise, and the number of companies purchasing cyber insurance increased 21 percent in 2013 compared to 2012, according to “Interest in Cyber Insurance Continues to Climb,” a Marsh Risk Management Research Briefing.
Marsh found that financial institutions were the largest group by industry vertical, representing 29 percent of buyers, and that average limits purchased for cyber risk rose to $11.5 million for all industries and company sizes in 2013, an increase from the average of $11.3 million in 2012.
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