08 Oct CYBER INSURANCE KEYNOTE SPEAKER: WHAT’S THE FUTURE OF ONLINE SECURITY?
Per cyber insurance keynote speakers, it’s a type of insurance policy that protects businesses from internet-based risks and costs related to cyberattacks, data breaches, and other digital threats. What should you know about the concept, though? Let’s review…
- Coverage: According to the best cyber insurance keynote speakers, policies can cover expenses for forensic investigation, legal liabilities, cyber extortion, loss of income due to systems being down, and costs for notifying customers after a data breach.
- Customization: Plans can be customized based on company size, industry, and specific cybersecurity needs. Limits, deductibles, exclusions can be adjusted.
- Claims: Companies file claims to get reimbursement for costs incurred from a covered cyber incident like a network intrusion or malware infection. Per top cyber insurance keynote speakers, insurers may provide access to cybersecurity experts.
- Premiums: Annual premiums vary widely based on factors like company revenue, data sensitivity, security protocols, and history of past attacks. Can range from $500 to $100,000+ per year.
- Adoption: Estimated 30-35% of companies worldwide carry cyber insurance. Health care, retail, financial services have high adoption rates. But most small businesses do not purchase it, or so cyber insurance keynote speakers explain.
- Insurers: Leading cyber insurers include firms like AIG, Chubb, and Allianz. Policies are also offered by tech firms, brokers, and government entities.
As cyber risks grow, cyber insurance keynote speakers say that it is becoming an increasingly common way for companies to mitigate financial damage. But it involves careful evaluation of policies, exclusions, and preparedness. Proactive IT security remains crucial.