The cybersecurity survey from Ovum for analytics company FICO has uncovered the fact that the number of UK companies reporting they have no cybersecurity insurance dropped from 31% in 2017 to 10% in 2018. In addition, only 38% of UK respondents said their cybersecurity insurance covers all risks.
Telecommunications companies were the most likely to have no cybersecurity insurance, 17%, compared to 5% of financial services companies. Furthermore, 40% declared that their insurer based their premiums on an accurate analysis of their risk profile.
Ovum conducted the survey for FICO through telephone interviews with 500 senior executives, mostly from the IT function, in businesses from the UK, the US, Canada, Brazil, Mexico, Germany, India, Finland, Norway, Sweden and South Africa. Respondents represented companies in financial services, telecommunications, retail and ecommerce, and power and utilities.
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