AI Cyberattacks Rise but Businesses Still Lack Insurance

Oct 30, 2024 | A Nationwide survey finds that despite rising AI-driven cyber threats, many businesses lack comprehensive cyber insurance. While 82% of risk managers fear future attacks due to GenAI, only 68% have insurance, and 36% face challenges renewing coverage. Chad Graham from Critical Start highlights the value of insurance in mitigating financial losses and supporting business recovery after cyber incidents. The survey also notes that 76% of affected businesses took over a month to recover, emphasizing the need for better protection.

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