A cybersecurity program is designed to reduce the risk of a cybersecurity breach. Reducing the risk of a cybersecurity breach to zero is neither feasible nor possible. Preparing for a cybersecurity breach involves considering more than preventative measures, it also includes planning your response if one occurs. Many companies have acquired or are considering acquiring a cyber liability insurance policy to eliminate or reduce the costs associated with responding to a cybersecurity breach. With these policies comes important questions that need to be answered. First, does the coverage provided adequately address your organization’s likely financial exposure? Second, does the policy introduce compliance requirements that will be used as criteria on whether the insurance company will reimburse you for your claims?
Dean Dorton’s Technology team is comprised of experienced professionals who can assess your likely financial exposure and compare that to coverage limits. We can also review cyber liability insurance documents such as the application, response declarations, coverage endorsement, and policy to determine if the insurance company requires measures on your part in order for them to pay a claim.