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.

Risk

1/23/2018
07:50 PM
Kelly Sheridan
Kelly Sheridan
Slideshows
Connect Directly
Twitter
LinkedIn
Google+
RSS
E-Mail

10 Costs Your Cyber Insurance Policy May Not Cover

All the things you might think are covered but that don't actually fall under most policies.
1 of 11

(Image: LidiaLydia via Shutterstock)

(Image: LidiaLydia via Shutterstock)

1 of 11
Comment  | 
Print  | 
Comments
Oldest First  |  Newest First  |  Threaded View
BrianN060
100%
0%
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.   
mcavanaugh1
100%
0%
mcavanaugh1,
User Rank: Strategist
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
100%
0%
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.  
PaulWaite
100%
0%
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".
Joe Stanganelli
100%
0%
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.
Volnut
50%
50%
Volnut,
User Rank: Apprentice
1/29/2018 | 8:41:17 AM
Re: 10 costs potentially covered
Thank you for your insights.
DevSecOps: The Answer to the Cloud Security Skills Gap
Lamont Orange, Chief Information Security Officer at Netskope,  11/15/2019
Attackers' Costs Increasing as Businesses Focus on Security
Robert Lemos, Contributing Writer,  11/15/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: -when I told you that our cyber-defense was from another age
Current Issue
Navigating the Deluge of Security Data
In this Tech Digest, Dark Reading shares the experiences of some top security practitioners as they navigate volumes of security data. We examine some examples of how enterprises can cull this data to find the clues they need.
Flash Poll
Rethinking Enterprise Data Defense
Rethinking Enterprise Data Defense
Frustrated with recurring intrusions and breaches, cybersecurity professionals are questioning some of the industrys conventional wisdom. Heres a look at what theyre thinking about.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2011-3349
PUBLISHED: 2019-11-19
lightdm before 0.9.6 writes in .dmrc and Xauthority files using root permissions while the files are in user controlled folders. A local user can overwrite root-owned files via a symlink, which can allow possible privilege escalation.
CVE-2019-10080
PUBLISHED: 2019-11-19
The XMLFileLookupService in NiFi versions 1.3.0 to 1.9.2 allowed trusted users to inadvertently configure a potentially malicious XML file. The XML file has the ability to make external calls to services (via XXE) and reveal information such as the versions of Java, Jersey, and Apache that the NiFI ...
CVE-2019-10083
PUBLISHED: 2019-11-19
When updating a Process Group via the API in NiFi versions 1.3.0 to 1.9.2, the response to the request includes all of its contents (at the top most level, not recursively). The response included details about processors and controller services which the user may not have had read access to.
CVE-2019-12421
PUBLISHED: 2019-11-19
When using an authentication mechanism other than PKI, when the user clicks Log Out in NiFi versions 1.0.0 to 1.9.2, NiFi invalidates the authentication token on the client side but not on the server side. This permits the user's client-side token to be used for up to 12 hours after logging out to m...
CVE-2019-19126
PUBLISHED: 2019-11-19
On the x86-64 architecture, the GNU C Library (aka glibc) before 2.31 fails to ignore the LD_PREFER_MAP_32BIT_EXEC environment variable during program execution after a security transition, allowing local attackers to restrict the possible mapping addresses for loaded libraries and thus bypass ASLR ...