Hospitals aren't buying cybersecurity insurance, FICO survey finds

Nearly 70 percent of U.S. healthcare providers haven't purchased cyber insurance, according to a recent survey.

Analytics software company FICO interviewed senior staff in security and IT positions at companies with more than 500 employees across five industries.

Here are five things to know about how healthcare executives perceive cybersecurity, based on the FICO survey results:

1. Most healthcare executives said their organizations experienced an increased threat of cyberattack during the past year, although they identified different magnitudes. Here's how executives responded:

  • Went down: 30 percent
  • Stayed the same: 30 percent
  • Increased by 0 to 25 percent: 10 percent
  • Increased by 26 to 50 percent: 20 percent
  • Increased by 51 to 75 percent: 10 percent (the healthcare industry was the only industry to report risk increased this high)

2. Healthcare execs are split over whether they expect cyberthreats and data breaches to stay the same or rise in the coming year. No healthcare execs said they expect these threats to decrease.

3. Most healthcare executives (40 percent) perceive their cyber-readiness as better-than-average compared to their peers, while 30 percent say their strategy is average. Others (30 percent) claim it makes them a recognized top performer.

4. Sixty percent of healthcare organizations expect to increase their cybersecurity budget in the coming year.

5. Across all industries, executives perceive that senior IT management (31 percent) poses the highest risk to their organizations, followed by system administrators and internal IT staff (20 percent) and everyday business users (16 percent).  

To access the complete FICO report, click here.

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