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Cyber insurance: Buy, but be aware

Discussion in 'CSO' started by RSS, Jul 9, 2015.

  1. RSS

    RSS New Member Member

    "Caveat emptor" - buyer beware - is the most common warning to those shopping for big-ticket items. That, apparently, applies in spades to buying cyber insurance.

    Not that buying it is a bad idea, say insurance experts, who note the obvious – the catastrophic losses of a major breach could break a company financially.

    “A carefully tailored policy is worth it, when you’ve taken the time to review the terms,” said Lynda Bennett, chair of the Insurance Recovery Practice at Lowenstein Sandler LLP, adding that it is rapidly becoming mandatory for any company that contracts with others.

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