While a small number of companies currently carry cyber insurance, 62 percent of survey respondents reported that just the process of evaluating insurance improved the company’s cyber security preparedness and readiness. This is a clear sign that we will see substantial growth in preparedness and, subsequently, the cyber insurance industry.
About the Author: Michael Bruemmer, CHC, CIPP/US, is vice president with the Experian Data Breach Resolution group. With more than 25 years in the industry, Bruemmer brings a wealth of knowledge related to business operations and development in the identity theft and fraud resolution space where he has educated businesses of all sizes and sectors through pre-breach and breach response planning and delivery, including notification, call center and identity protection services. Bruemmer currently resides on the Ponemon Responsible Information Management (RIM) Board, the International Security Management Group (ISMG) Editorial Advisory Board and the International Association of Privacy Professionals (IAPP) Certification Advisory Board.