Cyber insurance complements cyber security. Cyber Security complements cyber insurance. While it sounds simple, it is often easier said than done. The two are sometimes partnered together, and like any relationship or partnership, sometimes things get complicated.
Cyber security can be compared to the alpha male. He’s strong, courageous, has a purpose, not afraid to make decisions, is assertive, in control and “unpredictable.” We all know that cyber security is unpredictable and not foolproof which is why cyber insurance is its ideal match.
Cyber insurance on the other hand demonstrates many alpha female traits. She’s the sexy, young insurance policy that every wants to know and is talking about. She doesn’t give up easily, is guided by purpose, brings people together, is resilient, and “not afraid to walk away if need be.” This certainly reflects the cyber insurance process and fortunately, there have not been too many insurers that have walked away from insureds. Like the alpha female, insurers stand up for what they believe in and are fiercely loyal to the cyber insurance process.
When cyber security fails, cyber insurance is there for a purpose – to bring people together, help build resilience and when needed, is just a phone call away to provide the support that is needed when a security disaster strikes.
Perhaps if companies thought of cyber security and cyber insurance as an alpha-male and alpha-female partnership, there would be no question about whether one or the other is needed. The two are meant to be together. While they’re definitely not one of those “love at first sight” type of relationships (as the IT team loathed cyber insurance back in the day), they are more like the couple “who play together, stays together” type. For fun, if the two were given a surname, it would naturally be “Insurance” aka Cyber Security Insurance.
In all seriousness, the future of cyber insurance depends on cyber security. In order for cyber insurance to continue to thrive, grow and be the epitome of resilience, companies must secure their data, networks, endpoints, servers and devices and train their employees to help do the same.
Cyber risk is a constant, and all companies large or small are under attack whether they know it or not. There has never been a better time than now, to forge a relationship between your company’s cyber security and cyber insurance.
We’re here to help with both. Due to our cutting edge cyber security solutions and many cyber insurance coverage options, we can help forge a better Cyber Security Insurance relationship for your company.
Want To Know More About Cyber Insurance?
- Learn about first-party and third-party cyber insurance coverages
- Contact our Cyber Insurance Leader, Christine Marciano
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