Money managers starting to buy cyberattack insurance

March 21, 2016

Money managers increasingly are buying cybersecurity insurance to supplement their technology security strategies to both combat data breaches and deal with repercussions if hackers do break in.

About 30% of U.S. institutional money managers had cybersecurity insurance coverage as of Jan. 1, sources said, most of which were firms with more than $10 billion in assets under management. That compares with only 5% at the start of 2014, they said.

Along with news coverage about cyberattacks across the business spectrum, interest has been piqued by a new round of manager reviews by the Securities and Exchange Commission under its Regulation Systems Compliance and Integrity rule.


Read full story…

Source: Pension & Investments.