New cyber attacks are occurring on a daily basis, resulting in operational costs and reputational damage. There are several possible approaches to handling this risk: you can mitigate it, transfer it (by purchasing insurance), ignore it (accepting any consequences), or avoid it.
An insurance policy can help you protect against a future risk – but it’s not a ‘one-size-fits-all’ decision. There is a lot to do to make sure cyber insurance will actually meet your priorities. This includes both collecting information internally, and evaluating the situation externally.
The Beltug paper includes more about the types of insurance, the evolution of the cyber insurance market, the questionnaires you will be asked to fill in, standard coverage, and who to involve in your decision.
The paper is available for Beltug members, after login.