Only one in five UK CEOs say their cyber insurance will cover the full cost of a cyberattack

• 22% expect their policy to offer full coverage, 10% expect it to fall short
• Data breaches and reputational damage are major concerns
• Companies should look at finances before considering operational recovery readiness

New research from Cohesity has revealed that many UK businesses could be significantly overestimating the protection they get from cyber insurance policies, with just one in five (22%) British CEOs believing their policy would cover both the additional costs and lost revenue that an attack could lead to.

A third expect it would cover the additional costs only, another third believe their policy is only sufficient for lost revenue, and a further one in 10 did not expect it to cover either of the two categories.

The report's conclusion is that cyber insurance in its current state for many UK businesses is only enough to transfer some of the financial risk – but not enough to restore systems,...

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