Average insurance cost per data breach rises to $3.7M: Study

Specialty Casualty Ins...Underwriting
Written By Paul Hughes

Can you afford to expose the financial health of your company to a Cyber Breach without insurance protection?

The average insurance cost per data breach incident increased sharply from $2.4 million in 2010 to $3.7 million in 2011, according to a new NetDiligence study released Tuesday.

Based on insurance claims that were submitted in 2011 for incidents that occurred from 2009 to 2011, the average number of records exposed decreased 18% to 1.4 million, according to NetDiligence's “Cyber Liability & Data Breach Insurance Claims — A Study of Actual Payouts for Covered Breaches.”

READ MORE: Average insurance cost per data breach rises to $3.7M: Study

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All writers specialize in Professional Employer Organization (PEO) business services such as Workers Compensation, Mergers & Acquisitions, Data Management, Employment Practices Liability (EPLI), Cyber Liability Insurance, Health Insurance, Occupational Accident Insurance, Business Insurance, Client Company, Casualty Insurance, Disability Insurance and more.

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Paul Hughes
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