Policy limits are up by an average of 46% this year for insurance for network security and privacy liability, according to a Towers Watson survey. Nearly 40% of survey respondents said they carried such coverage. The findings "show a mounting awareness of cyberattack capabilities, which require a more comprehensive protective net than reliance on even the most capable IT staff. Yet 6 in 10 companies are still without a liability policy in place, and this is alarming," said Larry Racioppo of Towers Watson.
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