Loss Trends in Cyber Liability Insurance Webinar
First-party cyber coverage protects against direct company losses including breach notification costs, forensic investigations, ransomware payments, and data restoration.
Business email compromise, increasingly severe ransomware attacks like Dark Angel targeting public companies, and persistent wire fraud continue to be prominent cyber threats requiring stringent security measures.
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.
When underwriting cyber liability insurance, insurers must evaluate four key areas including organizational controls, risk management sophistication, external reputation, and overall business solvency.
Cyber attacks on major software and high-profile targets are expected to persist, as evidenced by recent incidents.
