The costs of data breaches are in the millions and rising fast. The average annualized cost of cyber crime incurred by a benchmark sample of U.S. organizations was $12.7 million, up 96% since five years ago. The biggest reason is that a general liability policy is no longer enough. The trend among insurance providers is to exclude electronic records and data. Many carriers are pulling back on the types of industries and risks they will cover. Many such policies exclude coverage for: Breaches of protected information in paper files.”]
Source: https://www.csoonline.com/article/2835274/cyber-insurance-worth-it-but-beware-of-the-exclusions.html