Despite the fact that cyber risks and cyber security are widely acknowledged to be a serious threat, many companies today still do not purchase cyber risk insurance. However, this situation is changing. Recent legal developments underscore the fact that reliance on traditional insurance policies is not enough, as companies face growing liabilities in this fast-evolving area. For example, more than 70 class actions lawsuits were filed against Target Corporation alone by its customers following its 2013 holiday season data breach that compromised up to 110 million customer accounts.
For this SLP, answer the following:
What do cyber insurance policies cover and exclude (i.e., First Party vs. Third Party)?
What factors might an insurance company consider in assessing the risk level (exposure) of a certain business (i.e., Organizational, Technical, Policies & Procedures, Legal & Compliance)?
In your opinion, are cyber insurance policies a viable option for businesses to mitigate cyber risk? Explain.
Last Completed Projects
| topic title | academic level | Writer | delivered |
|---|