Almost every day there are reports of cyberintrusions, attacks and related security breaches. If your company does not have the right insurance, it could be even more of a disaster. For example, according to regulatory filings, at the time of Target’s cyberbreach in 2014, it had about US$100 million in insurance coverage with a $10 million deductible, but that did not even make a dent in the estimated losses of $1 billion. What company can afford not to have insurance for a potential cyberdisaster? Let’s look at some protective measures that can be taken to safeguard your business.
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It's Time to Investigate Cyber Insurance
Posted by: Peter S. Vogel February 17, 2015 05:00 AMAlmost every day there are reports of cyberintrusions, attacks and related security breaches. If your company does not have the right insurance, it could be even more of a disaster. For example, according to regulatory filings, at the time of Target’s cyberbreach in 2014, it had about US$100 million in insurance coverage with a $10 million deductible, but that did not even make a dent in the estimated losses of $1 billion. What company can afford not to have insurance for a potential cyberdisaster? Let’s look at some protective measures that can be taken to safeguard your business.