Cyber Liability has become a hot topic due to high profile cyberattacks. Increasing awareness has fueled demand for cyber liability insurance and the number of insurance carriers writing coverage has increased. Since there is no standardized policy form, comparing the policy forms to identify key coverage differences is important for the architect to make an educated decision.
This guide outlines the type of risks of which one must be aware in order to identify appropriate coverage for them. These risks can range from security breaches where sensitive information is stolen by a hacker or inadvertently disclosed, to business interruption from a hacker shutting down a network, to malware or ransomware holding a firm’s practice hostage until resolution.
Find out what you need to know about cyber liability coverage in the 2021 Guide to Cyber Liability Coverage—to help transfer your cyber risks, evaluate the cyber liability policy options available to you, and select the best match in terms of limits and coverage to meet your needs.
Cyber Liability (also known as “cyber insurance,” “privacy breach insurance” and “network security insurance”) has become a hot topic over the past couple of years due to several high-profile cyber attacks. Almost every type of business has some exposure to cyber and privacy risk which makes this a universal concern for insureds.
This increasing awareness has fueled demand for cyber liability insurance. Becoming a buyer of cyber liability insurance starts with understanding the insurance product and how it addresses your cyber-related risks as an architect. But first, it’s important to know what information to ask to become an educated and informed buyer.