Don’t let Cyber Insurance be Your Cybersecurity Plan
By EsqSocial Corporation 25/02/21
In a recent letter to insurers, the New York State Department of Financial Services (“NYDFS”) acknowledged the key role cyber insurance plays in managing and reducing cyber risk – while also warning insurers that they could be writing policies that have the “perverse effect of increasing cyber risk.” If a cyber insurance policy does not incentivize the insured to maintain a robust cyber security program, the insurer can end up bearing excessive risk when the customer leans on the policy as their...
By: Stoel Rives - Global Privacy & Security Blog®