The study found that personal identification information PII was the most typically exposed data type, followed by private health information PHI. The average claim per breach was $3.7 million; however, large claims of up to $76 million skewed the average. The typical loss cost insurers about $200,000. Third-party damages represented the single largest component of claims. With PEO’s storing much of this data it is critical for them to have Cyber coverage.
via As Cyber Coverage Soars, Opportunity Clicks | PropertyCasualty360.
