From reducing the risk of ransomware to defining what security incidents are and aren’t covered, Rich Gatz explores the ins and outs of cyber insurance.
A study from AdvisorSmith ranked sectors by their cost of cyber insurance. Organizations in the financial industry reported the highest cyber insurance expenses.
Insurance has long existed as a mechanism for the transferal of risk to a third party, particularly for those risks that fall outside of an organization’s direct control. However, as the threats we face evolve so must the insurance products that we purchase. Recently, the most significant dangers that have come to light and threatened to destroy a company overnight have emerged within the cybersecurity sphere. This has fueled the growing interest and appetite for cyber liability insurance.
Data breaches have led enterprises to invest more in cybersecurity programs. But what about consumers, who often feel the effects of a security breach?
