-
- Current Site
Security Training- Choose a different site Help
Security Certification
Internet Storm Center
College Cybersecurity Programs
Security Awareness Training
Blue Team Operations
Forensics & Incident Response
Offensive Operations
Industrial Control Systems
Cloud Security
Cybersecurity Leadership
Government Private Training
Bonus Session Registration
Debunking the Myths about Cyber Insurance:
- How Security and Cyber Insurance are Actually Hitting It Off
- Jason Christopher
- Tuesday, July 11th, 6:15pm - 7:15pm
There are many myths when it comes to cyber insurance and the role the insurance industry plays in a holistic cyber resilience strategy. Insurance has not always been popular among the security community, however, to reduce cyber risk across the organization, security leaders are looking at cyber insurance as a key consideration in the overall cyber security strategy. In this session, we will debunk the common myths and focus on realities of cyber insurance and the positive role the insurance industry plays in managing cyber risk and supporting a holistic cyber resilience strategy.
The Myths vs Reality:
⢠Myth: Cyber insurance policies force dubious security requirements and thresholds
⢠Reality: False; The current insurance marketplace features nearly 75 providers of coverage, the vast majority of which do not feature such terms.
⢠Myth: Cyber insurance policies don't pay claims.
⢠Reality: False; most cited claim denial cases are cherry picked and sensationalized, or flat out misrepresented. Cyber policies have a strong track record of paying claims for all industry classes for losses such as forensics expenses, incident response costs, business interruption losses and bricked technology assets.
⢠Myth: The only firms that invest in cyber insurance are those that are not confident in their cyber security; it's an admission of failure.
⢠Reality: Firms that purchase cyber insurance view it as a valuable financial control to effectively complement their traditional control set. How many security leaders set aside hundreds of thousands per year in a ârainy dayâ fund to pay for forensics and incident response?
In this session, we will walk through a real-world scenario in which an organization in the critical infrastructure space successfully partnered with the insurance industry to achieve its intended insurance coverage and make cyber program and organizational improvements to support the security leaderâs strategy.
