August 2013

Untangling Cyber Liability Insurance

As we delve deeper into the digital age, cyber risks are an increasingly important consideration for risks managers and company boards.

Previously, it was widely assumed cyber risks only existed for companies selling online. Nowadays, with a more onerous and volatile regulatory landscape (particularly the ever-changing privacy laws), more sophisticated hackers and changes in our use of technology, the impact of a data breach could have a severe impact on all companies; selling online or not. All firms now need to identify and assess their potential cyber exposures and develop strategic ways to manage these, which could include a cyber-insurance policy.

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