76% of companies enhanced cyber defenses, leading to increased insurance coverage and better pricing, while global cyber insurance premiums decline, according to Sophos and Howden Insurance.
76% of companies improved their cyber defenses, enabling 76% to qualify for cyber insurance coverage, 67% to get better pricing, and 30% to secure improved policy terms, according to a survey by Sophos. Simultaneously, cyber insurance premiums are falling globally as businesses increase their cybersecurity efforts, leading to reduced insurance claims, a report by Howden Insurance shows.
June 30, 2024
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