Is Your Cyber Liability Any Good? A Guide for Banks to Evaluate Their Cyber Liability Insurance Coverage
The last several years have taught many banks that no matter the precautions they take, that it's very likely they will experience a data breach. These breaches are expensive and can also result in business interruption losses, loss of intellectual property, fines, penalties and significant harm to the company's reputation. To mitigate these risks, banks turn to cyber liability insurance. This guide provides tips for these companies when selecting cyber liability insurance coverage.
This article will be published in Volume 21 of the North Carolina Banking Institute Journal, forthcoming in March 2017.