Hiscox has reiterated the need for companies to buy hacker insurance after a survey revealed that insurance companies' IT systems are being increasingly disrupted by hackers.
In Deloitte & Touche's survey of global insurance companies and banks, 83% of respondents said their systems had been "compromised" in the past year.
This compared to only 39% of respondents in the 2002 survey.
Of the respondents who said their IT systems had been compromised, 40% said the breaches had resulted in "financial loss" to their organisation.
Hiscox UK technology manager Stephen Wares said there was a "mismatch" between the number of companies whose IT systems were being hacked and the number of companies buying hacker cover.
"Only 5% of our client base takes up hacker cover," Wares said.
"Hopefully this [the Deloitte survey] will highlight the need for hacker insurance."
Deloitte said fewer respondents in the 2004 survey had fully deployed anti-virus systems.
The survey showed that 87% of respondents had fully deployed anti-virus measures in place. This compared to 96% of respondents in 2003.
"The survey finds that companies are sliding backwards when it comes to the use of security technologies," a Deloitte statement said.
It's the perfect way to acknowledge hard work, inspire your team, and network with industry leaders.
Crucially, as many of our attendees have done before, you can use your table booking as the perfect, hassle-free Team Christmas Party, combining prestige, celebration, and a memorable night they'll talk about all year!
