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.
When underwriting cyber liability insurance, insurers must evaluate four key areas including organizational controls, risk management sophistication, external reputation, and overall business solvency.
First-party cyber coverage protects against direct company losses including breach notification costs, forensic investigations, ransomware payments, and data restoration.
Wrongful data collection can make organizations liable for damages, highlighting the importance of implementing privacy by design principles and involving privacy officers in website technology decisions.
Businesses without adequate cyber liability coverage risk bearing full financial responsibility for data breaches, potentially facing legal consequences from shareholders and other stakeholders.
