Adrian Gilder’s Post

Do you know what to do if your business is hit with a cyber attack? Check out our latest blog to learn about the general steps businesses need to take when making a cyber insurance claims. #CyberLiabilityInsurance #CyberInsurance #CyberAttack #CyberCrime #Insurance #BusinessInsurance #CommercialInsurance https://lnkd.in/g5kiaxAa

When considering a cyber insurance policy, it is essential to understand that it extends beyond contract terms. It is crucial to take into account the fundamentals, considerations, and fees required to make informed decisions that align with your company's needs. You can use several factors as a checklist to consult with your insurance advisor. These factors include product commitment, specialty endorsements, and policy wording, comprehensive cyber handling knowledge, insurer backing, claims experience, data analytics, pre-breach services, outsourced security operations center (SOC), and market longevity. #cyberinsurance #insurance #bkspartners #riskmanagement Check the full list here! https://lnkd.in/g9VKTas2

I've shared some thoughts on the status of the cyber insurance market in '23 with Dark Reading. Please see below At-Bay #cyberinsurance

Discover effective strategies to combat rising cyber insurance rates! Here are five ways for businesses to lower their costs: 📉💰https://okt.to/ZGjnl1 #CyberInsurance #compliance #threatdetection

Explore three key factors affecting cyber insurance rates: company size, industry risks, and security measures. Get tips to manage costs and optimize your investment!

Discover effective strategies to combat rising cyber insurance rates! Here are five ways for businesses to lower their costs: 📉💰https://okt.to/U0e9la #CyberInsurance #compliance #threatdetection

In 2023, cyber insurance claims surged significantly, according to recent findings by Marsh. This uptick is largely due to an increasingly active threat landscape, particularly affecting the healthcare sector, which has seen a notable rise in claims due to its vulnerability to cyberattacks. The overall trend indicates that cyber insurance premiums are likely to increase over the next 12 to 24 months as insurers adjust to offset growing risks. The healthcare sector's susceptibility to cyber threats underscores the critical need for robust cybersecurity measures and comprehensive insurance coverage. #CyberInsurance #CyberSecurity #HealthcareSecurity #InfoSec

There’s an important evolution for the cyber insurance market underway, following years of skyrocketing costs, limited competition and considerable pressure to accurately project future risks. #FutureForward #CortezLabs

Not only does this impact policyholders but could also set a critical legal precedent for third-party liability. What does this mean for cyber insurance? Read my latest blog to find out! Armada Risk Partners #CommercialInsurance #cybersecurity #cyberinsurance #riskmitigation #Fortune500 #workplacestrategy

One is not sure how this will end well Gerry Kennedy. The recent Crowdstrike incident raises many questions about the role that insurance effectively plays in supporting client manage risk. With the national Cyber Director Harry Coker confirming the need to work with actuaries to substantiate the data needed to underwrite cyber insurance. “We're working through one of the challenges, which is around the actuaries. Do we have sufficient data to make the cyber insurance market more mature? That's an area that we're focused on,” Cyber insurance and as important insurance to manage ICT risk, lack any meaningful level of data to accurately underwrite the risks. The Right of Bang focus of insurers and the insured has led us to a point where insurance in being managed through caps and exclusion clauses. Where the coverage gap is simply getting bigger, as the insured is unable to effectively manage the risk. At the same time cyber regulation is requiring a 'Left of Bang' approach to proactive cyber risk management, at risk of corporate civil and criminal penalties. The Crowdstrike incident also throws a spanner in the insurance works, as it highlights the issues related to the ICT risks associated with single points of failure that involve third party suppliers and subsequent consequential losses. Organisations and governments have to focus on Left of Bang risk management if there is going to be meaningful management of cyber and ICT risk. Thaddeus Dziekanowski Brian D. McCarthy Veritas GRC #cybersecurity #cyberriskmanagement #cyberinsurance #risktransfer