Leveraging Cyber Insurance to Mitigate Cyber Incidents
via New York Law Journal
7-May | Commentary by Steve Tso • Cyber Business Review • Victoria, BC
COVID-19 is forcing employees to work from home. This extension of the company IT perimeter into employee households is opening up a new wave of attack vectors for cybercriminals. Companies have accepted the fact that their cyber defense will never be 100% effective, and knowing that the average cyber incident costs $4 million, they are turning to cyber insurance as a mitigation tool. As with any insurance policy, background knowledge and an understanding of the fine print matter. This article by the New York Law Journal takes an introductory look at cyber insurance and provides context as to what companies should consider when contemplating cyber insurance.