In addition to gaining massive media attention, the Target data breach is also changing the nature of Cyber Risk Insurance. Key changes, discussed below in more detail: Risk Management works – this could have been prevented Liability coverage in a Cyber Risk Insurance is now critical Underwriters will accelerate their review of their own offerings – underwriting, policy forms and pricing – and the market will tighten Most companies will buy Cyber Risk Insurance Smaller organizations will closely review the coverage they have – is it adequate? The data breach itself is fascinating – see here at BloombergBusinessweek and here at KrebsonSecurity for specific accounts of what happened. It shows that risk management works – this breach could have been... Read more →