Insights

Cyber Insurance Gone Wrong: Tips On Avoiding Costly Missteps

May 23, 2018

Cyber Liability

As I’ve written in a prior post, I see plenty of articles discussing the failures of cyber insurance, most of which are tales of woe about an outdated policy form or even vilify the wrong product entirely (e.g. General Liability not covering a data breach).

In a refreshing turn, I wanted to share an article written by Thomas H. Bentz Jr. of Holland & Knight, which lays out the perils of cyber insurance AND clearly makes the point that all of these are solvable with good brokerage advice and negotiation at the time of placement. All insurance policies should be regularly re-negotiated to keep up with best-in-class terms and conditions, and nowhere is this more critical than in cyber risk, where the exposures are changing on a daily basis and the number of new entrants to the market is driving competition and better products.

READ THE ARTICLE

See all articles by Lauri Floresca

All views expressed in this article are the author’s own and do not necessarily represent the position of Woodruff-Sawyer & Co.

Lauri Floresca

Senior Vice President, Cyber Liability

Editor, Cyber Liability

Lauri is a widely respected expert and frequent speaker on the issues of directors & officers liability and cyber liability. She has developed her expertise surrounding complex privacy breach claims and innovative Cyber Liability solutions, and has extensive experience placing D&O programs for public companies of all sizes, including NASDAQ 100 and Fortune 500 companies.

415.402.6523

LinkedIn

Lauri Floresca

Senior Vice President, Cyber Liability

Editor, Cyber Liability

Lauri is a widely respected expert and frequent speaker on the issues of directors & officers liability and cyber liability. She has developed her expertise surrounding complex privacy breach claims and innovative Cyber Liability solutions, and has extensive experience placing D&O programs for public companies of all sizes, including NASDAQ 100 and Fortune 500 companies.

415.402.6523

LinkedIn