Cyber Insurance Gone Wrong: Tips On Avoiding Costly Missteps

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post, I see plenty of articles discussing the failures of cyber insurance, most of which are tales of woe about an outdated policy form or even vilify the wrong product entirely (e.g. General Liability not covering a data breach).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