Does Your Cyber Insurance Keep You Safe?
Cyber insurance is designed to offset the costs of recovering from a cyberattack. But, it does not relieve you from your security obligations.
With the cost of breaches skyrocketing, organizations are increasingly turning to cyber insurance policies to limit their financial exposure.
When considering cyber insurance, it is critical to understand that a policy does not relieve an organization of its security obligations. In 2015, a division of insurance giant CNA sued a former client, Cottage Healthcare Systems, to recover a paid claim of more than $4 million. The suit claimed that Cottage Healthcare had not implemented proper security controls, and therefore their claim should not be covered.
Cyber insurance policies require you to follow at least the minimum practices for software security. Download this whitepaper to learn about common security practices that can prevent cyberattacks.