A recent survey of legal hackers shows how easy hacking is for the experts, and should demonstrate to any organization the need for Cyber Risk Insurance (also called Data Breach, Privacy and Network Security insurance coverage).
The survey, The Black Report 2017 by nuix, was conducted at the 2016 DEF CON conference (see articles here, here & here). The key takeaway: 88% of hackers surveyed believe they can breach most targets in less than 12 hours. In addition, 84% of hackers confirmed that they social engineer their targets, and approximately half of the hackers surveyed noted that employee education was an extremely important countermeasure.
Combined with strong IT security, Cyber Risk Insurance is an important protection against hacking attacks and employee error. Coverages vary widely, but comprehensive Cyber Risk Insurance policy forms are available.
Tennant Risk Services is a specialty wholesale broker and underwriting manager of professional liability and specialty insurance (E&O, D&O, EPL, Cyber Risk, Specialty). Cyber Risk Insurance is our specialty, and we excel at hard to place accounts.
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