As companies incorporate ever-evolving technology, daily headlines show escalating cyber risks. Cyber risks can run the gamut, from personally identifiable information (PII) data breaches, to “internet of things” perils, to regulatory and class actions. Faced with these across-the-board cyber risks, businesses are looking toward their insurance policies to cover resulting losses. However, the current state of the cyber insurance market makes it difficult to navigate these risks and adequately protect companies from liability through reliable insurance coverage. A number of lawsuits and arbitrations have arisen involving cyber insurance companies disputing insurance coverage for cyber claims under cyber-specific insurance policies.
To help policyholders maximize the chance of an insurance recovery from cyber-related losses, this article includes our list of 10 cyber insurance recovery tips.