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
A Lawyers Guide to Cyber Insurance: 4 Basic Tips
Newest First  |  Oldest First  |  Threaded View
REISEN1955
50%
50%
REISEN1955,
User Rank: Ninja
7/16/2019 | 8:32:05 AM
Re: Monetary protection only
Point taken and it would be wise for insurance companies to provide these services and also make sure their suggestions ARE being carriesd out !!!   Periodic review would be mandatory.  
mcavanaugh1
50%
50%
mcavanaugh1,
User Rank: Moderator
7/16/2019 | 8:12:38 AM
Re: Monetary protection only
No, not all Cyber Insurance policies are limited to monetary protection.  Many carriers providing standalone Cyber Insurance policies provide Pre-breach Risk Management services including policies & procedure templates, pre-beach consulting, and training to ultimately provide education to companies.  Some will also provide active monitoring, vulnerability scans (limited in nature), phishing training for employees, table top exercises, and hardware/software to help protect the insured company's network.  These can all be provided to an insured company for no additional cost.

The marketplace is adapting to include post-breach remediation as well.  Some carriers will extend consulting services to provide recommendations and others will pay to remediate any issues to avoid breaches going forward.  This can include replacing hardware, upgrading systems or simply rolling out patches depending on the consultant's findings.

There is a lot of misinformation out there lately with Insurance companies denying coverage under a Cyber Insurance policy.  The most recent is the War Exclusion issues.  In the case of Mondelez the articles/stories rarely explain that Mondelez did not have a Cyber Insurance policy but rather they were trying to file a Cyber claim under a Property policy not designed to cover that exposure. 

Your best bet to get covered is to work with an agent/broker that knows the coverage and works with Insurance Companies that have been in the marketplace for long enough that they have handled many many claims and offer a comprehensive policy with risk management services. Premiums for these policies can be as low as a $500-$700 inclusive of the coverage & services.
REISEN1955
50%
50%
REISEN1955,
User Rank: Ninja
7/15/2019 | 9:49:29 AM
Monetary protection only
Does not PREVENT or REMEDIATE a breach!!!   This is for the accounting department - gee, 14 million records stolen and personal data exposed BUT the firm can survive the financial loss!!!  WE HAVE INSURANCE.  Oh, that is a signal for the Lawyers to file lawsuits - why? THE CASH IS THERE.   But it does nothing to prevent or take action during or after a breach.  Does it??? 


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
How Data Breaches Affect the Enterprise
Data breaches continue to cause negative outcomes for companies worldwide. However, many organizations report that major impacts have declined significantly compared with a year ago, suggesting that many have gotten better at containing breach fallout. Download Dark Reading's Report "How Data Breaches Affect the Enterprise" to delve more into this timely topic.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2021-44093
PUBLISHED: 2021-11-28
A Remote Command Execution vulnerability on the background in zrlog 2.2.2, at the upload avatar function, could bypass the original limit, upload the JSP file to get a WebShell
CVE-2021-44094
PUBLISHED: 2021-11-28
ZrLog 2.2.2 has a remote command execution vulnerability at plugin download function, it could execute any JAR file
CVE-2021-4020
PUBLISHED: 2021-11-27
janus-gateway is vulnerable to Improper Neutralization of Input During Web Page Generation ('Cross-site Scripting')
CVE-2021-23654
PUBLISHED: 2021-11-26
This affects all versions of package html-to-csv. When there is a formula embedded in a HTML page, it gets accepted without any validation and the same would be pushed while converting it into a CSV file. Through this a malicious actor can embed or generate a malicious link or execute commands via C...
CVE-2021-43785
PUBLISHED: 2021-11-26
@joeattardi/emoji-button is a Vanilla JavaScript emoji picker component. In affected versions there are two vectors for XSS attacks: a URL for a custom emoji, and an i18n string. In both of these cases, a value can be crafted such that it can insert a `script` tag into the page and execute malicious...