Why companies don’t buy cyber insurance

Insurance policies covering cybersecurity incidents may be increasingly popular, with 80% of companies reporting in one survey that they had bought a standalone policy for that purpose in 2016. However, a new report from the Deloitte Center for Financial Services indicates some significant problems in this emerging market, as Vincent Ryan writes for CFO.com. The continuous evolution of the cyberthreat makes risk assessment difficult and quickly turns policies obsolete. The insurance companies, meanwhile, are undermined by a lack of definitive data on the market. And buyers are troubled by the fact that few cyber insurance disputes have been tested in court.

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