Cyber Coverage — Big Companies Buying, Smaller Ones Not so Much

Marsh & McLennan took a long look at who is buying cyber insurance. Dangerously so, it’s not smaller companies. Here is some info from the survey:

• 47% of clients that Marsh has with revenues of $1 billion and up picked up cyber coverage
• Just 34% of clients defined as “smaller” bought such coverage

Most of Marsh’s clients that picked up cyber insurance last year were involved in education. Of its education clients, 60% picked up cyber insurance. Healthcare businesses were second at 56%.

Barely over half is still not a very high number.

Source link: Business Insurance — https://bit.ly/3M9VY5l