The dramatic increase in hacker attacks is driving companies to seek ”cyberinsurance” worth hundreds of millions of dollars, even though many policies can still leave them exposed to claims. Companies are having to enhance not just their information technology practices, but also their human resources and employee training functions just to get adequate coverage against intrusion. In some cases, they are also accepting deductibles in the tens of millions of dollars. According to reports, the demand for coverage is soaring. Companies are trying to protect themselves against civil lawsuits and the potential for fines by governments and regulators.
Source: Insurance Journal
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