Authored on: Jul 21, 2014
The market for cyber liability insurance has been around for over a decade, but only recently has it experienced a spike in demand. The variety of recent high-profile data breaches have cast light on the importance of having coverage should a cyber-attack strike a business. No business is immune to a cyber-attack, which can wreak havoc not only on the IT environment, but also on the bottom line.
Despite all of this, cyber insurance is a product still in its infancy. While there is a wide array of cyber insurance coverage options available, they can be very limited because a standardized assessment of cyber risk does not yet exist. This is where having the right cyber risk intelligence information can help you make more informed decisions around your organization's unique cyber risks, the potential impact and where to focus your security efforts and budget when it comes to selecting the proper cyber liability insurance.
This paper examines the challenges of understanding cyber risks, the importance of having the right cyber risk information, and what cyber insurance options make the most sense based on your business.