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Improving Enterprise Cybersecurity With XDREnterprises 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.
Incident Readiness and Building Response Playbook
In this special report, learn the Xs and Os of any good security incident readiness and response playbook.
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User Rank: Moderator
10/29/2020 | 4:35:07 PM
Many Insurance Agents & Brokers are not educated on why you should not expect coverage for a Cyber event under a Property policy. They feel that servers & computers are considered property so any damage, regardless of the proximate cause, should be covered under the property policy. This is not going to be the case outside of specialized forms or those endorsed to provide affirmative coverage for Cyber events.
In reality, 90% of Cyber claims filed under standalone Cyber Insurance policies are covered by the carrier. That is specific to standalone policies providing affirmative coverage as opposed to an endorsement on another policy. You should absolutely work with an Agent or Broker that understands the coverage or make sure that they are working with a wholesaler or carrier that does.
Understanding the Cyber Insurance policy requires a knowledge of the exposure (not just the application) and the policy language which is not always the case for attorneys so the combination of an educated agent and an attorney is not a bad idea. Also, if there are any questions and the attorney or agent cannot answer get on the phone with the underwriter who better be able to answer the questions. If that is not possible you might want to try another carrier, agent, or broker.