Would you insure your data against loss or damage?

Businesses are failing to take advantage of insurance policies that would pay out on losses resulting from damaged files or compromised and corrupted data - partly because many don't know that they exist.

While 52 per cent of companies have specific insurance policies relating to their material assets, such as office furniture, only 29 per cent have insurance policies relating to their data, according to research from BT.

However, that figure still sounds remarkably high to many who had not even heard of such policies.

One IT director told silicon.com: "I've never heard about any policies like that. There are more wide-ranging ones which cover business continuity but that tends to include everything from not being able to get into your building due to a bomb scare to losing critical systems."

Mark Ellis, director of storage and information management at Computer Associates, said there was talk of such policies a couple of years ago - and demand among businesses for them was high - but the biggest stumbling block was putting an actual sum on the policy and quantifying the potential costs associated with lost data.

However, Ellis said: "When you talk about 'insuring' your data, you really should be talking about back-up."

But that is still an issue on which companies are failing. The BT research claimed that 24 per cent of companies never back-up their data in any way, shape or form. And according to Ellis, the picture is even bleaker where mobility is concerned, with 87 per cent of company laptops never being backed up.

And this isn't just an issue of inconvenience - lost data can prove fatal for businesses. With the storage capabilities of laptops increasing year-on-year, employees are increasingly walking around with their company's 'crown jewels' in their laptop bag - leaving sensitive data such as entire accounts systems in the back of taxis or under a seat in a pub.

Mick Hegarty, ICT general manager at BT, said in a statement: "Just because computer files are out of sight, doesn't mean they should be out of mind. If a desk breaks, it is pretty easy to replace but losing your computer files could cost you your business."