Two articles on Cyber Risk Insurance and cyber exposure of note:
The Unthinkable Risks of the Cloud – The article notes the risk aggregation that occurs at cloud computing vendors and suggest three keys:
- Choose a cloud vendor carefully
- Get cyber risk insurance expertise
- Evaluate cyber catastrophe exposures
Data Threats Spark Insurance Hunger – an overview of Cyber Risk Insurance buying
The article notes an average cyber risk insurance limit of $16.8 million per client. Clearly this applies to a larger segment. Most smaller organizations buy $1.0 - $2.0 million in limits at low cost.
Cyber Risk insurance coverage is not expensive for small businesses, and provides a critical protection from the risks associated with the use of digital communication, including data breaches. As a wholesale broker, we provide Cyber Risk Insurance and cyber risk expertise to organizations through retail insurance brokers and agents.