But is what you have enough?
Why you’re right to worry about your cyber insurance needs
It’s time to talk about the elephant in the room: your cyber insurance needs. With ransomware, phishing, and other cyberattacks continuing to increase in volume, sophistication, and financial impact, you can't afford to ignore them – figuratively and literally. In fact, the average cost of a data breach was more than $4 million in 2022. But damages aren’t just financial, either, as your reputation is also on the line.
Cyber insurance exists to help with the costs of data breaches, but cyber insurance providers are responding to the growing threat environment by making some changes. For them, it’s about lowering risk. For you? It’s getting evermore difficult to qualify for coverage (or even renew your existing coverage). And even when you have it, claims might not be paid in full – or worse, outright denied.