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Cybersecurity insurance: Read the fine print

…and use a specialist broker.

[…] After consulting with experts, Bounds offers the following suggestions as a means to drive down perceived risk and possibly lower premiums. Those responsible in the company:

  • Should consider buying more cybersecurity coverage when there’s a heavy reliance on technology due to the lack of in-house cybersecurity expertise;
  • May find they need less insurance coverage if appropriate cybersecurity practices are employed, and there are in-house experts; and
  • Should keep insurers informed on how they communicate cybersecurity measures to employees.

The best suggestion I found was from Gavin Phillips in his MakeUseOf commentary Do You Really Need CyberInsurance? 4 Questions to Ask Before You Get It. He spent several paragraphs explaining the importance of reading the “fine print.”

[…]

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Peter Glock
Over 30 years of designing, building and managing telecoms and IT services. Primarily working with large enterprise and professional services businesses in Asia, North America, continental Europe and the UK. Information security professional, secret physics nerd.
https://brownglock.com

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