What You Need to Know About Cyber Insurance

May 12, 2017 / GuidesFor Team

In order for companies to reduce the loss and damages a data breach caused them, they need to have a cyber insurance policy, cyber risk insurance, or cyber liability insurance coverage (CLIC). CLIC is a great help for companies to calculate the amount of money they’ve lost, and the amount they need to recover from the past event. Cyber insurance also covers the loss and can help them rebound from the crisis in a shorter time.

According to the Allianz Risk Barometer, which surveyed over 800 risk managers and insurance experts in more than 40 countries, cyber incidents are the most important long-term risk for companies in the next 10 years.  While the fields of healthcare, financial, retail, and technology services have been early adopters of cyber insurance, demand from other verticals is expanding as well.  This will continue as corporate boards across industries continue to mandate protection and insist coverage be tailored to their unique liability exposure and individual threat landscapes. If you are a business owner, then find out how cyber insurance can help you in these digitally challenging times. – Mayvilyn Aguilar

Read the source article at CIO.com

Posted In: