Fear was an important factor for mid-sized companies in the United States to consider getting a stand-alone cyber insurance in 2019. According to the results of a 2019 survey, two reasons were the most common: companies either purchased a policy after an an independent cybersecurity risk assessment or after a cyberattack occurred against another company in the same industry. In both situations, around 40 percent of respondents selected this answer. Recommendations from brokers were least common.
Reasons for 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
The source does not provide information on the original wording used during the survey. Thus, the wording chosen for this statistic may differ slightly from the one in the survey. Multiple answers were possible, however.
* 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.
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Deloitte. (March 16, 2020). Reasons for purchasing stand-alone cyber insurance at middle market companies in the United States in 2019 [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1184757/reasons-purchasing-cyber-insurance-middle-market-companies-us/
Deloitte. "Reasons for purchasing stand-alone cyber insurance at middle market companies in the United States in 2019." Chart. March 16, 2020. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1184757/reasons-purchasing-cyber-insurance-middle-market-companies-us/
Deloitte. (2020). Reasons for purchasing stand-alone cyber insurance at middle market companies in the United States in 2019. Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1184757/reasons-purchasing-cyber-insurance-middle-market-companies-us/
Deloitte. "Reasons for 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/1184757/reasons-purchasing-cyber-insurance-middle-market-companies-us/
Deloitte, Reasons for purchasing stand-alone cyber insurance at middle market companies in the United States in 2019 Statista, https://www.statista.com/statistics/1184757/reasons-purchasing-cyber-insurance-middle-market-companies-us/ (last visited November 22, 2024)
Reasons for 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/1184757/reasons-purchasing-cyber-insurance-middle-market-companies-us/
