Cyber risk insurance is becoming an increasingly important aspect of a company’s cybersecurity posture. Just as an incident response plan can mitigate the potential negative effects on company reputation and customer relationships, cyber risk insurance can offer financial protection for a vast range of hard costs that today’s companies may incur in the event of a cyber breach.
In this episode, Christian Hoffman, President of Aon’s U.S. Cyber Solutions Retail sector, explains what a cyber risk insurance policy typically covers–and how that coverage has evolved in just a short period of time. In this episode:
- What questions should boards be asking management about cyber risk insurance?
- What constitutes an effective policy?
- Which organizational factors have the greatest impact on costs and types of coverage?