Tag: cyber insurance

Cyber insurance, human risk, and the potential for cyber-ratings

October 9, 2024

Could human risk in cybersecurity be managed with a cyber-rating, much like credit scores help assess people’s financial responsibility? It’s undeniable that cyber insurance and cybersecurity are intrinsically linked. One requires the other, and they are a perfect pairing, even if they may deny the relationship. Looking ahead, however, we probably need to add a … More Cyber insurance, human risk, and the potential for cyber-ratings

Understanding cyber-incident disclosure

September 20, 2024

Proper disclosure of a cyber-incident can help shield your business from further financial and reputational damage, and cyber-insurers can step in to help. ‘Seek legal advice’, this has to be my top recommendation if you have suffered a cyber-incident that could be deemed material, involves personally identifiable information, or if your business is classed as … More Understanding cyber-incident disclosure

The key considerations for cyber insurance: A pragmatic approach

September 4, 2024

Would a more robust cybersecurity posture impact premium costs? Does the policy offer legal cover? These are some of the questions organizations should consider when reviewing their cyber insurance options. There must be a consideration of the ethical question of contributing to the payment of extortion demands of cybercriminals. Any company that is paying a … More The key considerations for cyber insurance: A pragmatic approach

How regulatory standards and cyber insurance inform each other

August 22, 2024

Should the payment of a ransomware demand be illegal? Should it be regulated in some way? These questions are some examples of the legal minefield that cybersecurity teams must deal with. Governments create legislation and regulations primarily to protect public interests and keep order, ensuring society functions as it should. When related to cyber insurance … More How regulatory standards and cyber insurance inform each other

The cyberthreat that drives businesses towards cyber risk insurance

August 1, 2024

Many smaller organizations are turning to cyber risk insurance, both to protect against the cost of a cyber incident and to use the extensive post-incident services that insurers provide. If we were to stop people on the street and ask for words to describe the people involved in the world of cyber, there would, undoubtedly, … More The cyberthreat that drives businesses towards cyber risk insurance