Cyber Liability Insurance WHAT YOU NEED TO KNOW

Cyber liability insurance can be a lifeline in the event of a major incident or breach. Cyber incidents rose 35% in 2020 alone with data breaches costing $4.24 million per year, resulting in cyber insurance premiums jumping up by 50-100%. Modern challenges like phishing, ransomware, remote workforces, stolen credentials and personal devices demand increasingly sophisticated cybersecurity practices. Organizations must secure themselves against unknown and advancing threats while striking a balance between proactive and reactive measures. No doubt, cyber insurance is a hot topic right now. Do you need it? How do you qualify for it? How much will it cost?

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