As a risk manager you recognize the necessity of insuring against a worst-case scenario, and you've protected your organization from the risks of fire, flooding, and other cataclysmic events. But what about a devastating breach of your digital defenses?
Consider this: 73 percent of small and midsize companies have experienced a cyber attack, according to a 2010 survey by Symantec Corp. of 2,100 businesses worldwide.
Despite that disturbing figure—and that almost every company has some kind of network, database or online presence—only 33 percent of private companies have proper cyber-liability coverage, according to a survey by Chubb Insurance.
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