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Setting the Record Straight on Cyber Insurance

For 20 years, cyber insurance has covered losses and expenses associated with a growing range of cyber perils. So why is there continued scepticism about its responsiveness? It is time to correct the record: cyber insurance is an essential component of a comprehensive cyber risk management program, and a worthwhile investment for businesses.

Data breaches, notification costs, third-party liability, business interruption, cyber extortion, reputation damage — the potential cyber and technology exposures that businesses face continue to expand, as do the potential economic losses they can cause.

So it's no surprise that cyber risk now ranks among the top five concerns for companies.

In the first of our series of three short videos, Sarah Stevens and Stephen Liddle help to 'bust the myths' that surround this important coverage:

  1. Cyber Myth: Cyber Insurance Does not Cover Human Error.
  2. Cyber Myth: Insurers dictate which incident response providers and advisors are used.
  3. Cyber Myth: Cyber insurance excludes recent technology or system upgrades.