… At a micro summit during Black Hat 2019 in August, experts described a booming market with an increasing number of competing insurance carriers and incredibly cheap policies for enterprises that need financial protection against cyberattacks.
But the speakers also urged the infosec community to be aware of potential hurdles and drawbacks, including hidden exclusions and conditions within cyber insurance policies. One element emphasized by speaker Jake Kouns, CISO at Risk Based Security, was incident response (IR); insurance carriers often offer policies that dictate how incident response will be conducted, and which vendors will be called in to conduct the investigations and clean-up efforts. If those IR plans aren’t followed to the letter, then coverage can be nullified.
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