Cyber insurance gaps stick firms with millions in uncovered losses


Dive Brief:

  • The majority of companies, 4 in 5, have suffered a cyberattack that wasn’t fully covered under their cyber insurance policy, according to an analysis by cyber risk quantification firm CYE.
  • On average, each insurance gap left more than three-quarters of a breach uncovered, CYE said in a report released Wednesday. The research, which analyzed 101 breaches across various sectors, revealed an average of $27.3 million in uncovered losses per incident.

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