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3 things to do when looking for Cyber insurance

CSR Thoughts...

Experiencing a cyber-attack should be considered a high probability event, and mitigating this risk is vitally important for a company to survive.  Cybersecurity insurance can be a valuable tool for relieving the financial burden of an incident, but choosing the right one can be a difficult task.  Reducing your risk is an important step when shopping for a cyber liability policy.  Evaluating weaknesses to your organization, having a well-documented incident response plan, and implementing annual cybersecurity risk assessments can save you a lot of money when negotiating the terms and rates of a policy.  

3/17/2016

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Property & Casualty 360

Most risk managers understand that it is no longer a question of “if” but instead “when” their company will experience an incident. In fact, according to the Ponemon Third Annual Study on Data Breach Preparedness, only 35% of organizations had a data breach or Cyber insurance policy in 2015, and many more are now looking to buy policies.