More than ten different factors kept mid-sized companies in the United States from buying a stand-alone cyber insurance in 2019. The most common reason was because coverage is already included in other standard policy and liability policies, as stated by 43 percent of respondents to a survey. However, this question was only asked of respondents who did not purchase a stand-alone cyber insurance policy; among all respondents the most common reason was the high cost, with 41 percent of overall respondents citing this as a reason.
Reasons for not purchasing stand-alone cyber insurance at middle market companies in the United States in 2019
Executives responsible for purchasing insurance at middle market companies*
Supplementary notes
This question was phrased by the source as follows: "Why hasn't your company purchased a stand-alone cyber insurance policy? (Check all that apply)" Multiple answers were possible.
* Middle market companies are defined by the source as companies generating more than 250 million U.S. dollars but less than one billion U.S. dollars in annual revenue.
** Only asked of respondents who did not purchase stand-alone cyber insurance, which amounted to 45 percent of the total respondents.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Deloitte. (March 16, 2020). Reasons for not purchasing stand-alone cyber insurance at middle market companies in the United States in 2019 [Graph]. In Statista. Retrieved November 04, 2024, from https://www.statista.com/statistics/1184736/reasons-not-purchasing-cyber-insurance-middle-market-companies-us/
Deloitte. "Reasons for not purchasing stand-alone cyber insurance at middle market companies in the United States in 2019." Chart. March 16, 2020. Statista. Accessed November 04, 2024. https://www.statista.com/statistics/1184736/reasons-not-purchasing-cyber-insurance-middle-market-companies-us/
Deloitte. (2020). Reasons for not purchasing stand-alone cyber insurance at middle market companies in the United States in 2019. Statista. Statista Inc.. Accessed: November 04, 2024. https://www.statista.com/statistics/1184736/reasons-not-purchasing-cyber-insurance-middle-market-companies-us/
Deloitte. "Reasons for Not Purchasing Stand-alone Cyber Insurance at Middle Market Companies in The United States in 2019." Statista, Statista Inc., 16 Mar 2020, https://www.statista.com/statistics/1184736/reasons-not-purchasing-cyber-insurance-middle-market-companies-us/
Deloitte, Reasons for not purchasing stand-alone cyber insurance at middle market companies in the United States in 2019 Statista, https://www.statista.com/statistics/1184736/reasons-not-purchasing-cyber-insurance-middle-market-companies-us/ (last visited November 04, 2024)
Reasons for not purchasing stand-alone cyber insurance at middle market companies in the United States in 2019 [Graph], Deloitte, March 16, 2020. [Online]. Available: https://www.statista.com/statistics/1184736/reasons-not-purchasing-cyber-insurance-middle-market-companies-us/