Is your cyber insurance legit?
Cyber insurance will become a mandatory step for nearly every business in the coming year, regardless of industry or size. Having a cyber security recovery plan – in advance – is no longer a “nice to have.” It’s mandatory, as Sr. Technology Alignment Manager Ron Llewellyn warns.
In earlier years, we taught business leaders how to identify cyber attacks. Today we help IT and business leaders prepare Business Continuity Plans that include cyber liability insurance to protect the business if and when an attack happens. (R. Llewellyn)
But there is a catch. Businesses think their cyber insurance applications are filled out correctly, only to learn that the process can be complicated and claims are being denied. Why? Cyber insurers are looking for ways to get around paying. The loopholes in coverage are not apparent until a claim is submitted.
Many businesses are confused by the questions asked on the cyber insurance application and, as a result, submit inaccurate or incomplete applications. (M. Lindsley)
Loopholes and lack of understanding on the part of the business can leave your organization exposed and not covered in the case of a cyber-attack.
Want help completing your cyber liability insurance form?
At Blue Fox Group, we help IT and business leaders review cyber liability insurance forms with a guarantee that you meet all regulations to qualify for coverage in the case of an attack and receive the best price for that coverage.