Obtaining insurance coverage starts with an application, whether you're looking for inexpensive auto insurance online or complex coverage for a multinational business.
Cyber coverage is no different, explained Judy Selby, managing director of BDO Consulting, as she moderated the panel titled "You Finally Bought the Cyber insurance Policy. Now What?" as part of ALM's cyberSecure conference on Sept. 27.
The challenge with cyber liability insurance is that approximately 67 companies sell the coverage, and there are no standard forms to follow. In most cases, although there are some commonalities for businesses in the same industry, Cyber coverage is customized to a specific company, and pricing is scaled to the size of the organization, the kinds of data to be protected and the types of cyber risk the organization faces.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
