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Cyber insurance 101: what is it and does my company need it?

13
Jun
2023
Cyber insurance 101: what is it and does my company need it?

image credit: adobe stock

Cyber risk is on the rise as the combined impact of surging threat levels, expanding attack surfaces and security skills shortages are putting organizations at a disadvantage. Faced with an increased likelihood that they may suffer a damaging security breach, many may be looking to transfer liability onto a third-party carrier. But those who believe they can simply use cyber insurance as a replacement for investments in best-practice cybersecurity may be mistaken. In fact, the latter are increasingly now a pre-requisite for coverage.

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