October Event Highlights Cybersecurity Awareness
This October is the 15th annual National Cybersecurity Awareness Month, which began in 2004 as a way to encourage safer and more secure use of the Internet. The event was created by the Department of Homeland Security and the National Cyber Security Alliance to highlight online user awareness among consumers and businesses.
As individuals and companies have become increasingly reliant on the Internet and digital data, cyber insurance has increased in popularity, as well. In Texas, SLTX has recorded nearly $66 million in surplus lines cyber liability premium in 2018 through the end of September. This is a 22% increase over the same time period in 2017.
Further, 2018 year-to-date totals have far surpassed premium totals for previous years. SLTX has noted a 222% increase in cyber liability premium over 2013, just five years ago, and a 1,776% increase over 2008, ten years ago.
For more information on National Cybersecurity Awareness Month, visit the National Cyber Security Alliance website.