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

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Joe Biden gestures while arriving at an election night party in Wilmington, Delaware, U.S., on Wednesday, Nov. 4, 2020. (Photo: Stefani Reynolds/Bloomberg)

As President Joe Biden pledges to level up cybersecurity response and operations in the wake of the SolarWinds cyberattack, expect the new administration to build upon the current cybersecurity infrastructure. The benefits and drawbacks for the insurance industry are, of course, not certain, but based on previous policies, commissioned reports, and Biden’s recent moves, we’ll outline some possible impacts on cyber insurance.

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