Businesses have been evaluating complex issues when determining their insurance coverage needs for years. Now they must add evaluating cyber security risk and needs for cyber security insurance as well. Yet, unlike hard-hat safety sweeps of factory floors, or forecasting patterns from decades of meteorological data, cyber risk can be difficult to conceptualize and measure, with many factors often overlooked as businesses rapidly evolve and executives summon various legal, operations and board stakeholders for policy discussions.
Cyber insurance is still evolving in terms of what is covered and what is not. Organizations must now look for guidance on how to reduce their cyber risk, limit incidents and losses, and satisfy evolving insurance policy requirements to stay compliant and ensure they are covered. In our eBook, 2020 Cyber Insurance and Threats — Four Lessons Learned, we provide insights into how the cyber insurance industry is changing so you can make informed, cost-effective decisions when evaluating your cyber security insurance needs.