Security breaches have become one of IT organizations’ biggest headaches, and the pain just keeps getting worse. The average cost of a data breach last year reached $3.86 million, up 6.4 percent from the year before, according to a study by IBM and the Ponemon Institute.
In the face of the rising threat, it’s no surprise that companies are very receptive to cyber liability insurance. Market.us recently found that the global cyber liability insurance market was valued at $5.5 billion US dollars in 2018 and is expected to grow at a CAGR of 26.5 percent from 2019 to 2028.
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