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.
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.
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.
Cyber liability policies typically cover ransomware attacks, system outages, business interruption losses, and associated costs for investigation, legal assessment, threat response, and customer communication.
