Cyber insurance

How important are the following aspects of Directors' and Officers' liability insurance coverage to you?

Figure 23: D&O Coverage

As further emphasis of the board level focus on cyber risk, Cybersecurity related risks were ranked as the most important aspect of Directors & Officer’s liability insurance coverage

Cyber Risk

Q. Does your organisation have cyber insurance in place, or do you plan to purchase it in the next two years?

Figure 24: Does your organisation have insurance in place

Over half of respondents (53%) indicated they have cyber insurance in place with a further 38% planning to purchase in the next two years. Of those respondents who have cover in place, a significant majority purchase this as a standalone cyber policy rather than being part of a combined policy. From a budget perspective, 44% of respondents indicated the cyber insurance premium forms part of their cyber surety budget with 56% indicating it is allocated separately. This perhaps indicates the increasing importance of cyber insurance as part of (not separate to) an organisations overall cyber security programme