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Now's the time for insurance professionals and insureds to reexamine cybersecurity strategies and coverage.

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Organizations that are not actively and effectively managing certificates are more likely to suffer material breach events or other compromises. (Photo: iStock) Organizations that are not actively and effectively managing certificates are more likely to suffer material breach events or other compromises. (Photo: iStock)

Cybersecurity threats faced by insurance companies are growing and evolving at an alarming rate. This has been spurred by many factors, including the internet of things (IoT). While the IoT presents opportunities for insurers, it also exposes security gaps. The severity and frequency of cyber-attacks are likely to increase.

Insurers must commit to protecting sensitive customer information in a compliant and reliable way. The cybersecurity threat is huge. It is time for insurance companies to reboot their approaches to cybersecurity.

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