Fewer British firms have cyber insurance policies: PwC


  • TECH Premium
  • Thursday, 06 Oct 2016

A magnifying glass is held in front of a computer screen that reads password in this file photograph of a picture illustration taken in Berlin dated May 21, 2013.REUTERS/Pawel Kopczynski/files

The number of British firms insured against cyber threats has fallen sharply in the past year even though many doubled their security budgets after some high-profile companies suffered attacks, a survey by PwC showed on Oct 5. 

The auditing and corporate advisory firm said companies were reluctant to invest in cyber insurance because they viewed products available as inadequate. 

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