60% of Companies Lack Cyber Liability Coverage

While risk managers are increasingly prepared for a variety of risks, gaps exist between process and action, according to a Towers Watson survey.

April 22, 2013

Chris McMahon

The average policy limits for network security-and-privacy liability policies increased 46 percent year-over-year to $18.1 million, and 39 percent of survey participants purchased network security-and-privacy liability policies, an 11-percent increase from last year, according to Towers Watson’s annual “Risk and Finance Manager Survey.” The number of those who had not purchased a policy decreased 31 percent from the year prior and said their internal IT department/controls were adequate.

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