Jun 29 2022

The Cyber Insurance Balancing Act

Cybersecurity is all about balance. Companies need to continue to deliver value to their stakeholders, but a low friction approach is attainable so they can do both.

The insurance industry is reacting to the fact that the lack of balance means underwriting policies for them is too risky because many organizations take a feast or famine approach to cyber controls

A recent article that talks about the insurance markets’ maturity in the marketplace speaks directly to this (link below):

“Insurance companies are looking to see that would-be customers follow certain best practices that will reduce their risk exposure. Those practices may vary, but [most] insurers will reject clients who lack multi-factor authentication or fail to patch.”

And these controls are just a few of those that are needed. Moreover a framework based approach is what insurers want. The days of us calling cyber insurance the “wild west” is just about over I think.

Read on… Cyber Insurers On The Prospects For Attainable Coverage