Cyber Insurance Report | How To Ensure Your Policy Isn’t Void

Cyber Insurance Report | How To Ensure Your Policy Isn’t Void

REPORT • Feb 2022

This article shares some of the guidance we give to our clients to help them meet cyber insurance requirements, plus advice on how to ensure your company remains compliant. 

Key Points

Cyber insurance companies have come under huge strain over the last 12 months as the proportion of firms attacked rose from 38% to 43%. To combat the increasing cost of cyber insurance pay-outs, insurance companies are changing the scope and terms of policies to become much more stringent. If you don’t comply your policy will be void.

The first step of any cyber insurance compliance journey is to understand your individual policy and identify what terms and conditions are included. Don’t assume the conditions are the same as last year, it is likely they won’t be, and could be much tougher

 

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