Want good cyber insurance? Read the fine print
One of the main reasons to buy insurance is to prevent the cost of an accident or other disaster from breaking the bank. But what if simply buying insurance threatens to break the bank?
That scenario is starting to worry some organizations, for several reasons.
First is the simple but powerful market force of supply and demand. More and more organizations, spooked by regular stories of catastrophic breaches – such as the compromise of more than 1.5 billion Yahoo! accounts, which took down its acquisition value by a reported $350 million – are seeking insurance. And when demand rises, the price tends to do so as well.