Today, no one is 100 percent secure -- believing otherwise is hubris of Icarian proportions.
This reality is a core reason why more organizations are turning to cyber insurance. Because without it in some form (whether it's a purchased policy or their own allocated cash reserves), they have no safety net to stymie losses from a serious cyberattack.
Also: IBM: A data breach will now cost your organization $3.86 million, if you're lucky[1]
CISOs need every risk mitigation technique they can get, and cyber insurance can an effective tool to mitigate and transfer cyber risk. But getting the right coverage, terms, and services is far easier said than done.
Learn To Navigate Today's Cyber Insurance Market
Security leaders who take time to understand the ins and outs of the cyberinsurance market have a distinct advantage in everything from broker selection to policy negotiations.
This is why we launched our cyber insurance research: to guide our business and security clients through this $1.5 to $3 billion (and growing) market and to offer insight and best practices to better mitigate cyber risk.
Key Findings
What we found is a cyber insurance market that looks a lot different than even 2-3 years ago and keeps evolving quickly. Likely no surprise to security pros, many insurers' cyber offerings are their fastest-growing product lines. Still, insurers and security buyers alike grapple with a list of pain points. Here are some of our key findings:
- The cyberinsurance market is maturing, but growing pains persist. We see positive signs that the market is growing up: more transparent policies, fewer contentious claim holdups, and insurers with a better understanding of cyber risk. Still, it's far from painless. Security leaders face countless hurdles, including pedantic legalese, pricing