Cyber insurance payout rates at 99%, claims ABI
The cyber insurance battlefield is far from clear as the trade body calls on the ICO to make more breach data available publicly.
The Association of British Insurers (ABI) has revealed that 99% of claims made on ABI-member cyber insurance policies in 2018 were paid.
The body detailed that this is one of the highest claims acceptance rates across all insurance products.
The calculations are based on the 207 cyber claims that were made and settled in 2018, of which 205 were paid.
Despite this, the body argued that the take-up rate of cyber insurance by businesses in the UK is still worryingly low, with the overall market
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