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Securing cyber insurance takes a team and strategy. (Credit: Mikolette Moller/peopleimages.com/Adobe Stock)Cyber insurance is mission-critical to protect nearly every business, especially as today’s organizations face unprecedented risk. And with the average cost of a ransomware attack hitting $4.5 million in 2022, insurers are demanding that their clients do more to protect themselves against attacks.
Because of this, cyber insurance premiums are becoming increasingly expensive, with tighter underwriting requirements and more policy exclusions. In fact, only 55% of organizations in North America held cyber insurance policies in 2022, and a mere 20% have ransomware coverage exceeding more than $600,000.
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If you focus on solving concrete business problems, your A.I. can dramatically transform customer experience.
Roger Spears of Schneider Downs, discusses how businesses can perform a check-up of their cybersecurity practices and limit their vulnerability to online threats.
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Copyright © 2023 ALM Global, LLC. All Rights Reserved.
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