A growing number of insurance companies are offering cyber protection in the event of breaches and other malicious data attacks. The median annualized cost of detection of and recovery from cyber crime per company is $5.9 million, a 56% increase from 2010 median figures. A separate survey indicates that companies may be slow to warm up to cyber insurance. Decision-makers often mistakenly believe that standard corporate insurance policies and/or general liability policies cover losses related to hacking or that their cyber policies will cover all costs related to a breach.”]

