Many credit unions lack adequate security budgets. Cyber insurance can fill the risk gap.
In 2014, 73% of companies have the necessary safeguards in place, compared to 67% in 2013.
Cyber insurance should be part of the defense, security expert argues.
In response to increasing risks, insurers now offer cyber liability insurance. The product is particularly attractive to financial institutions and health care providers.
CUNA Mutual expert says about 20% of credit unions already have said yes.