September 21, 2016
Tips for Strong Cyber Liability Insurance
The Review of Securities & Commodities Regulation
There is no standard form for cyber liability insurance policies and little agreement among insurers on coverage issues.
Attorney Thomas Bentz presents five tips for companies to ensure that they have strong cyber liability insurance policies: (1) know what coverage grants you need; (2) avoid overlapping coverage with other lines of insurance; (3) know your defense arrangements; (4) negotiate key exclusions; and (5) carefully consider your choice of insurer. He adds a bonus tip: obtaining broad coverage does not necessarily cost more.