NU Online News Service, Aug. 10, 1:11 p.m.EDT

According to a survey of public companies by Chubb, more than 70percent say they have an incident-response plan for an electronicsecurity breach.

That would appear to be good news.

But the bad news is nearly 60 percent of the companies surveyedsay cyber-liability insurance is not a part of theincident-response plan.

Other survey results indicate there is a definiteconcern about data breaches, but it doesn't necessarily lead to aninsurance purchase to appropriately cover the risk.

The results are presented as part of an infographic Chubb hasput together, further revealing results of its “2012 Public CompanyRisk Survey.”

Click here to see the graphic.

In the same survey Chubb discovered there is a “general lack of concern” among surveyed public companies thattheir directors and officers will face a lawsuit.

The survey of decision-makers at 145 public companies in theU.S. and Canada was conducted by Pollara, an independentpublic-opinion and market research firm.

On Chubb's blog, Ken Goldstein, vice president for ChubbSpecialty Insurance, writes that he has spoken to small- andmedium-sized businesses (SMB) about cyber risk and “discoveredthere's some misunderstanding about their risk and how theircurrent insurance program will respond to this type of loss.”

He says SMBs think other policies provide coverage. That may betrue, in part. Some insurance could be available under otherpolicies but “there are frequently significant gaps in coveragethat could leave an SMB at risk of financial and reputationaldamage,” Goldstein adds.