Hashtags: #cyberinsurance #security #risks #exclusions #insurancecoverage
Summary:
- Delinea's State of Cyber Insurance Report reveals a growing disparity between carriers and enterprises seeking coverage.
- Companies are finding it increasingly challenging to secure cyber insurance, with longer waiting periods and higher premiums.
- Insurers should conduct risk assessments of organizations to identify and address security weaknesses.
- Many exclusions could nullify cyber insurance coverage, including inadequate security protocols, human errors, acts of war, and non-compliance with procedures.
- Organizations must understand policy stipulations to ensure their claims are approved.
- Despite challenges, organizations are investing in security solutions and securing budgets for cyber insurance coverage.
- Identity and Access Management (IAM) controls and Privileged Access Management (PAM) are key policy requisites.
- Cyber insurance is becoming a strategic imperative, with organizations investing in IAM, password vaults, and PAM controls to fortify coverage.
https://www.infosecurity-magazine.com/news/growing-disparity-cyber-insurance/