The ever increasing risk of data breaches and the steady flow of newly hacked organizations is pushing more companies to embrace cyber insurance and many experts believe that the future cybersecurity outlook will remain grim.
This is because our exposure to cyber risk remains extremely high due to how connected and wired our infrastructure is, how sophisticated and nimble hackers are, and the amount mid-sized firms are forced to invest in security. However, experts warn that picking up cyber coverage is just one piece of the puzzle. In “choosing a policy, companies need to do their homework regarding what is covered, the liability not covered, and why general liability coverage no longer does the job.” This Tech Times article outlines what firms should consider when purchasing a policy.