Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Comments
10 Costs Your Cyber Insurance Policy May Not Cover
Newest First  |  Oldest First  |  Threaded View
Volnut
Volnut,
User Rank: Apprentice
1/29/2018 | 8:41:17 AM
Re: 10 costs potentially covered
Thank you for your insights.
Joe Stanganelli
Joe Stanganelli,
User Rank: Ninja
1/25/2018 | 11:53:35 PM
Re: 10 costs not covered
I think the key word here is "May". If you think of it and you ask or negotiate, you can probably get it (albeit, perhaps, not at the price you want).

There is a complaint that smaller companies have less bargaining power than large enterprises, which may sometimes be true, but more often smaller or midsize companies are simply not thinking to ask very specifically for the things that large enterprises might consider routine.
PaulWaite
PaulWaite,
User Rank: Strategist
1/24/2018 | 11:18:11 PM
Cyber Cover Available
The costs that you have outlined and can be covered by one insurer. As stated you just need a broker that understands the various layers of complexity between various other businesss covers as well

We have designed a cyber product for the Australian market which is tailored to an organisationa actual risk and risk transference appetite. Simply put is is "Cyber by Design".
BrianN060
BrianN060,
User Rank: Ninja
1/24/2018 | 9:44:15 PM
Re: 10 costs potentially covered
@MC: I like your comment.  Don't agree with all your points; but they should be voiced - in a serious consideration of the proper role of insurance in cybersecurity corporate policy; and beyond the interests of an organization or industry.  There are macro-economic implications, and broad public and social consequences to what boils down to the responsibilities of data governance.

I don't think those can be properly enumerated and assessed in a string of comments.  Maybe it's enough that the article and comments inspire a closer look at the issues involved.  
mcavanaugh1
mcavanaugh1,
User Rank: Moderator
1/24/2018 | 1:59:26 PM
10 costs potentially covered
All 10 of the points provided can be covered under a Cyber Insurance policy through multiple insurance companies.  The issue should not be the problems with the policy but the problems with the agents & brokers selling the coverage.  Finding a broker or agent that understands the questions to ask, the carriers in the marketplace and the coverage to be added is the most important part of obtaining this coverage. Most of the issues we hear about claims being denied arise from an insurance agent that does not understand the coverage and simply places the insurance with the cheapest carrier on the table.  If your agent does not know how to get you a comprehensive insurance policy they should know who can get you one otherwise it is time for a new insurance agent.

Cybersecurity is a risk to be managed not solved.  Any comprehensive risk management program should incorporate IT security, Internal Policies, etc... as well as an Insurance policy to transfer the risk that cannot be removed through spending money on security. 
BrianN060
BrianN060,
User Rank: Ninja
1/24/2018 | 9:27:16 AM
10 costs not covered
Fine article, Kelly.  If typical, what's actually covered, they could write on a post-it note (it's the exclusions that would fill the binder).  Being flippant; but the facts presented should have many reconsidering reliance on insurance, over effective cybersecurity and data management/governance policies.   


Edge-DRsplash-10-edge-articles
I Smell a RAT! New Cybersecurity Threats for the Crypto Industry
David Trepp, Partner, IT Assurance with accounting and advisory firm BPM LLP,  7/9/2021
News
Attacks on Kaseya Servers Led to Ransomware in Less Than 2 Hours
Robert Lemos, Contributing Writer,  7/7/2021
Commentary
It's in the Game (but It Shouldn't Be)
Tal Memran, Cybersecurity Expert, CYE,  7/9/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
Improving Enterprise Cybersecurity With XDR
Enterprises are looking at eXtended Detection and Response technologies to improve their abilities to detect, and respond to, threats. While endpoint detection and response is not new to enterprise security, organizations have to improve network visibility, expand data collection and expand threat hunting capabilites if they want their XDR deployments to succeed. This issue of Tech Insights also includes: a market overview for XDR from Omdia, questions to ask before deploying XDR, and an XDR primer.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2022-2287
PUBLISHED: 2022-07-02
Out-of-bounds Read in GitHub repository vim/vim prior to 9.0.
CVE-2022-34911
PUBLISHED: 2022-07-02
An issue was discovered in MediaWiki before 1.35.7, 1.36.x and 1.37.x before 1.37.3, and 1.38.x before 1.38.1. XSS can occur in configurations that allow a JavaScript payload in a username. After account creation, when it sets the page title to "Welcome" followed by the username, the usern...
CVE-2022-34912
PUBLISHED: 2022-07-02
An issue was discovered in MediaWiki before 1.37.3 and 1.38.x before 1.38.1. The contributions-title, used on Special:Contributions, is used as page title without escaping. Hence, in a non-default configuration where a username contains HTML entities, it won't be escaped.
CVE-2022-34913
PUBLISHED: 2022-07-02
** DISPUTED ** md2roff 1.7 has a stack-based buffer overflow via a Markdown file containing a large number of consecutive characters to be processed. NOTE: the vendor's position is that the product is not intended for untrusted input.
CVE-2022-2286
PUBLISHED: 2022-07-02
Out-of-bounds Read in GitHub repository vim/vim prior to 9.0.