Tag Archives: Cyber Insurance

Cyber Insurance: Common Pitfalls of the Insured

As we have noted in a number of recent posts, tech companies need cyber insurance. The risk of not having it is simply not worth it.  But cyber insurance policies can be confusing to understand because the policies vary depending on your type of business, business needs, and how your customers are serviced. Some companies might need a combination of cyber policies in order to have complete cyber insurance coverage. It is very important to do your due diligence, think critically about the cyber insurance needs of your company, and find a policy that covers all of your company’s cyber …

[ CONTINUE READING ]

Cyber Insurance: Make Sure You Understand Your Coverage

Today, businesses are increasingly purchasing cyber-specific insurance in an effort to mitigate the financial impact of a breach or other cybercrime.  In terms of what might be covered in a cyber insurance policy, there are basically two types of coverage – “first party” coverage and “third-party” coverage.  First party coverage covers the types of losses that your company might suffer directly in the event of a data incident.  That may include losses, some of which may be covered and some not, such as data destruction, denial of service attacks, incident response, crisis management, public relations, forensic investigation, remediation, breach notifications, …

[ CONTINUE READING ]