Cyber insurance has become very difficult to obtain for most companies, which has created a great amount of chaos and frustration on the buyer side. In recent months, companies that have gone through their cyber insurance policy renewals have been very surprised when they learn that their policy has either been non-renewed or the premium has increased significantly. …
Why is Cyber Insurance so expensive?
To begin with, cyber insurance is not expensive when a company understands how the cyber threat environment can affect them, both financially and intangibly. The globalized nature of interconnected networks in which companies operate, exposes them to threat actors located anywhere in the world which are capable of affecting each and every company's network security. Cyber …
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Why Your Company Needs Cyber Insurance
In case you haven’t heard, cyber risk is now seen as the most important business risk in 2020. Companies of all sizes and industries are facing a number of challenges that include larger and more costly data breaches, ever more ransomware incidents and the increasing rate of litigation that occurs after an incident. [1] In today’s interconnected, always on digital age, our …
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