A recent study conducted by cyber insurance platform vendor Corax and global law firm Clyde & Co has found that the overall cost of a data breach event is 36% lower for insureds who use trusted panel vendors to manage incidents, as opposed to those who opt for the open market approach.
The white paper, Cyber Breach Insights: Key Drivers Beyond Cyber Insurance Claims, uses anonymized invoice data from 321 randomly selected US breach events between 2014 and 2015, to provide new insight on frequency, cost and duration of data breach events.
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