• Reasons for not purchasing cyber insurance U.S. 2019

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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

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Source

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Release date

March 2020

More information

Region

United States

Survey time period

Summer 2019

Number of respondents

504 respondents

Special properties

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.

The source does not specify the survey method.