Cyber Insurance Brokering

Whether you have employees working remotely or you have online meetings and webinars, you need to choose collaborative software that minimizes your risk of a data breach. Choose tools that encrypt messages and have two-factor authentication at sign-in. Mike de Waal is president and founder of Ottawa-based Global IQX, a leading software provider of web-based sales and service solutions to employee benefits insurers. He has deep experience in both software development and business management skills.

A Cyber Risk or Cyber Liability policy will cover liability, slander, and defamation claims due to your digital media presence. A Cyber insurance for cyber attacks policy will compensate you for the losses occurring due to e-theft of money or property such as securities, due to fraudulent input of data for which you are held responsible. According to James, the complexity of the plans and the coverage is rising with the prices. She noted that insurance providers will riddle policies with fine print, making the job of an adept CISO who can accurately address the needs of the company even more important. The volatility of the cyber insurance market and the threat landscape make understanding how your company fits into both incredibly important.

Additionally, if your industry requires specific coverage needs that are not covered in a standard cyber insurance policy, specialized or customized coverage will likely incur an additional cost. Continue reading to learn more about the cost of cyber liability insurance coverage and the factors that influence that cost. The world of technology is always growing and changing, and it has also become an essential part of doing business in the 21st century.

The company will also cover any revenue that you lose due to network outages, and they will pay out ransoms if you’re being extorted. Hiscox has existed since the early 1900s when it was originally founded as a marine insurance underwriter for Lloyd’s of London. To this day, Hiscox is still part of Lloyd’s network, and the company is known for providing various forms of specialist insurance coverage, including cyber security coverage. Arch’s experienced underwriting team takes a forward-looking approach to writing network security, privacy, and media liability. The Arch Netsafe® 2.0 Policy ensures that its coverage offerings are able to evolve and address the new exposures that spawn from an increasingly technology-dependent society.

The company’s solutions ensure educators are able to reduce distractions while supporting mental health and development, with DNS filtering, accessibility, and visibility capabilities to ensure safety while bolstering development. Palo Alto Networks works to protect all things digital across clouds, mobile devices, and networks. In addition to cloud and enterprise solutions, Palo Alto also offers Cortex, the company’s AI-based continuous security platform. Liberty Mutual’s Cyber Liability insurance policy comes with a range of benefits, including the fact that they monitor your credit and notify you when you’ve sustained a breach.

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