target audience: TECH SUPPLIER Publication date: Mar 2024 - Document type: IDC Survey Spotlight - Doc Document number: # US51948924
Has Cyberinsurance Finally Become a Standard Means to Transfer Risk?
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Abstract
This IDC Survey Spotlight highlights the results of a recent IDC survey regarding trends in the growth in organizations acquiring cyberinsurance in the market, and the following trends emerged:
- The number of organizations worldwide acquiring cyberinsurance has increased most likely due to ransomware growth, digital transformations in cyber-recovery, and increase in government regulations.
- Organizations are growing in confidence that most costs for claims will be covered by the cyberinsurer.
- There seems to be a growing alignment between cyberinsurers and organizations with regard to taking responsible actions for data protection.