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More companies are turning to cyber insurance to protect their organizations from the financial consequences of a data breach or cyber attack, according to a report issued by Marsh. The number of Marsh US clients purchasing cyber insurance increased 33 percent in 2012 over 2011, with those in the services and educational sectors leading the way, Marsh said. 

Companies also are purchasing higher levels of cyber coverage, according to the report, Benchmarking Trends: More Companies Purchasing Cyber Insurance. Cyber insurance limits purchased in 2012 averaged $16.8 million across all industries, an increase of nearly 20 percent over 2011. Communication, media, and technology companies led all industries, both by average limits purchased — $33.4 million — and the rate of increase over 2011, which was nearly 36 percent. 

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