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

3/24/2017
02:15 PM
Kelly Sheridan
Kelly Sheridan
Slideshows
Connect Directly
Twitter
LinkedIn
Google+
RSS
E-Mail
50%
50%

Intro to Cyber Insurance: 7 Questions to Ask

Buying a cyber insurance policy can be complex and difficult. Make sure you're asking these questions as you navigate the process.
Previous
1 of 8
Next

Cyber insurance is a growing field putting business and security leaders to the test as they navigate the often tricky process of researching and purchasing policies. Technology is quickly changing, and so is risk.

Insurance for cybersecurity is different from other types of insurance because the nature of threats is constantly changing. A hurricane doesn't change intensity because a building code changes, but cybercriminals will change their strategies as technology and risk evolve.

"New trends like BYOD, [and] IoT make tech strategy change all the time," says Portnox CEO Ofer Amitai. "It's really a problem for businesses to assess their policies and terms. Technology is so dynamic. It's difficult to say what's going on; what's their risk." 

These changes make it harder for underwriters and companies to stay abreast of the landscape. During the tricky process of buying cyber insurance, you'll ask and answer questions about your company, security posture, and other factors to determine which policy is best for you, and how much coverage you should buy. 

It's worth noting the research process is changing for businesses as the marketplace gets more competitive, notes David Bradford, chief strategy officer and director of strategic partner development at Advisen. Because insurers are fighting to underwrite the same businesses, they're making the purchasing process less burdensome for clients.

That said, insurance remains a tricky field to navigate, especially for companies new to it.

Here, Bradford and Amitai share questions businesses frequently ask -- and those they should be asking -- in researching insurance. Keep these in mind as you ponder which policy will work best for you.

[Bradford will give a presentation called Cyber Insurance 101 during Interop ITX, May 15-19, at the MGM Grand in Las Vegas. To learn more about his presentation, other Interop security tracks, or to register click on the live links.]

 

Kelly Sheridan is the Staff Editor at Dark Reading, where she focuses on cybersecurity news and analysis. She is a business technology journalist who previously reported for InformationWeek, where she covered Microsoft, and Insurance & Technology, where she covered financial ... View Full Bio

Previous
1 of 8
Next
Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
<<   <   Page 2 / 2
JamesD553
100%
0%
JamesD553,
User Rank: Apprentice
3/26/2017 | 10:31:09 PM
business secure
Given the number of news and analysis stories around this emerging trend you could be forgiven for thinking that cyber insurance is a one-size-fits-all product, but that is far from the truth. In reality, it should be treated as an add-on to good security and compliance, and not as a standalone product that will make your business secure
<<   <   Page 2 / 2
COVID-19: Latest Security News & Commentary
Dark Reading Staff 6/5/2020
How AI and Automation Can Help Bridge the Cybersecurity Talent Gap
Peter Barker, Chief Product Officer at ForgeRock,  6/1/2020
Cybersecurity Spending Hits 'Temporary Pause' Amid Pandemic
Kelly Jackson Higgins, Executive Editor at Dark Reading,  6/2/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: What? IT said I needed virus protection!
Current Issue
How Cybersecurity Incident Response Programs Work (and Why Some Don't)
This Tech Digest takes a look at the vital role cybersecurity incident response (IR) plays in managing cyber-risk within organizations. Download the Tech Digest today to find out how well-planned IR programs can detect intrusions, contain breaches, and help an organization restore normal operations.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-13890
PUBLISHED: 2020-06-06
The Neon theme 2.0 before 2020-06-03 for Bootstrap allows XSS via an Add Task Input operation in a dashboard.
CVE-2020-13889
PUBLISHED: 2020-06-06
showAlert() in the administration panel in Bludit 3.12.0 allows XSS.
CVE-2020-13881
PUBLISHED: 2020-06-06
In support.c in pam_tacplus 1.3.8 through 1.5.1, the TACACS+ shared secret gets logged via syslog if the DEBUG loglevel and journald are used.
CVE-2020-13883
PUBLISHED: 2020-06-06
In WSO2 API Manager 3.0.0 and earlier, WSO2 API Microgateway 2.2.0, and WSO2 IS as Key Manager 5.9.0 and earlier, Management Console allows XXE during addition or update of a Lifecycle.
CVE-2020-13871
PUBLISHED: 2020-06-06
SQLite 3.32.2 has a use-after-free in resetAccumulator in select.c because the parse tree rewrite for window functions is too late.