Today, no one is 100 percent secure -- believing otherwise is hubris of Icarian proportions.
This reality is a core reason why more organizations are turning to cyber insurance. Because without it in some form (whether it's a purchased policy or their own allocated cash reserves), they have no safety net to stymie losses from a serious cyberattack.
Also: IBM: A data breach will now cost your organization $3.86 million, if you're lucky
CISOs need every risk mitigation technique they can get, and cyber insurance can an effective tool to mitigate and transfer cyber risk. But getting the right coverage, terms, and services is far easier said than done.
Learn To Navigate Today's Cyber Insurance Market
Security leaders who take time to understand the ins and outs of the cyberinsurance market have a distinct advantage in everything from broker selection to policy negotiations.
This is why we launched our cyber insurance research: to guide our business and security clients through this $1.5 to $3 billion (and growing) market and to offer insight and best practices to better mitigate cyber risk.
What we found is a cyber insurance market that looks a lot different than even 2-3 years ago and keeps evolving quickly. Likely no surprise to security pros, many insurers' cyber offerings are their fastest-growing product lines. Still, insurers and security buyers alike grapple with a list of pain points. Here are some of our key findings:
--By Nick Hayes, Senior Analyst, and Heidi Shey, Senior Analyst
Want to learn more about the cyberinsurance market and options for covering cyber risk? Download our report here [subscription required].
This post originally appeared here.
Improve your cybersecurity strategy: Do these two thingshttps://www.techrepublic.com/article/how-the-cyber-insurance-industry-detects-the-next-big-attacks/
As cybersecurity gets more dangerous and more critical to organizations of all sizes, the answer is to prioritize your resources to guard the right stuff -- because you can't protect it all.
Cybersecurity report card: Why too many companies are graded 'could do better'
Lack of budget and the right skills are leaving businesses vulnerable to attack.
https://www.zdnet.com/article/cyber-security-report-card-why-too-many-companies-are-graded-could-do-better/How the cyber insurance industry detects the next big attacks TechRepublic
Jenny Soubra, Allianz's US head of cyber, talked with TechRepublic about counterintelligence measures on the dark web and Yelp-style sites for rating ransomware.
Cybersecurity insurance: What to look for when comparing policies TechRepublic
In a video interview with TechRepublic, Allianz's Jenny Soubra advised companies looking for a cyberinsurance policy. She recommended buying through a broker and looking closely at policy terms.