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Reasons for underwriter declining applications for cyber insurance coverage U.S. 2016

Reasons for underwriter declining applications for cyber insurance coverage in the United States in 2016

The data displays the reasons for underwriter declining applications for cyber insurance coverage in the U.S. in 2016. The third most common reason was an inadequate cyber incident response plan with 40.4% of the respondents citing that as their reason.

Inadequate cyber security testing procedures and audits	44.7
Inadequate processes to stay current on new releases and patches	40.4
Inadequate cyber incident response plan	38.3
Inadequate backup processes and recovery	34
Structure, size and configuration of network	31.9
Inadequate policies concerning the security of vendors and business partners	31.9
Quality of security software	25.5
Quality of employee training on security issues	23.4
Lack of adherence to a published security standard (e.g., ISO 27000)	17
Lack of CISO or similar role	14.9
Inadequate security score provided by third-party service	14.9
Other	14.9
Physical security of data center	8.5

Reasons for underwriter declining applications for cyber insurance coverage U.S. 2016

StatInvestor