"How tall is your office building?"
"How close is the nearest fire hydrant?"
"Does the building have an alarm system?"
Insurance companies ask straightforward, objective questions like these when companies seek property insurance so they can provide you with adequate coverage but still limit their financial losses.
But what kind of questions do insurance companies ask if you need cyber insurance? The answers to cyber related questions are often complex and subjective, which makes evaluating your company's cyber risk very "risky" for insurers and harder for you to get the coverage you need.
Our advisory explores this discrepancy and introduces Cyber COPE®, a new model for underwriting cyber insurance that is intended to simplify and improve the assessment of both cyber and privacy risks.
“By sharing information and developing a common foundation in which to underwrite constantly evolving cyber risks, the industry will be better equipped to provide the proper coverage and solutions to protect organizations from cyber-related exposures.”
Be the first to learn about our new model for underwriting cyber insurance, intended to simplify and improve the assessment of both cyber and privacy risks.