How much cyber coverage these startups have in place varies from company-to-company, and 52% of surveyed founders reported having cyber coverage that is either customized to their needs or “the most comprehensive” cyber insurance they were able to obtain. (Credit: William Potter/Shutterstock.com) How much cyber coverage these startups have in place varies from company-to-company, and 52% of surveyed founders reported having cyber coverage that is either customized to their needs or “the most comprehensive” cyber insurance they were able to obtain. (Credit: William Potter/Shutterstock.com)

More than two-thirds of startup founders say they have had a business fall victim to a cyberattack, according to the “Cyber Risk Index: Startup Edition” report recently released by Embroker. With virtual menaces so prevalent, it’s no wonder these business owners are taking the threat seriously, and 86% of founders said they already have some form of cyber insurance protection. Fourteen percent of startups are operating without existing cyber coverage, and nearly half of those (44%) cite cost as the main reason they’ve abstained from purchasing a policy.

How much cyber coverage these startups have in place varies from company-to-company, and 52% of surveyed founders reported having cyber coverage that is either customized to their needs or “the most comprehensive” cyber insurance they were able to obtain. Meanwhile, 27% said they have merely added basic cyber coverage to a pre-existing policy.

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Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected]

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