Loss Trends in Cyber Liability Insurance Webinar
Cyber attacks on major software and high-profile targets are expected to persist, as evidenced by recent incidents.
Businesses without adequate cyber liability coverage risk bearing full financial responsibility for data breaches, potentially facing legal consequences from shareholders and other stakeholders.
Cyber liability policies typically cover ransomware attacks, system outages, business interruption losses, and associated costs for investigation, legal assessment, threat response, and customer communication.
When underwriting cyber liability insurance, insurers must evaluate four key areas including organizational controls, risk management sophistication, external reputation, and overall business solvency.
Wire transfer fraud is a form of cybercrime where criminals impersonate executives to request fraudulent wire transfers, sometimes using deep fake technology to make their impersonation more convincing.