The Anatomy Of A Cyber Incident Response: Best Practices For Insurance Claims Professionals Handling Data Breach Losses

 Monday, June 17, 2019

 CLM Magazine

Companies dedicate significant resources to avoiding data breaches and managing other cyber risks. As a result, cybersecurity is a growing field within larger corporate IT, and has caught the eye of senior management.

In fact, many companies’ C-suites now either include a chief information security officer (CISO) or have a CISO reporting to them.

However, when failures in cybersecurity occur for small and mid-size enterprises, an appropriate cyber insurance policy can be an invaluable tool to assist businesses with responding to, and dealing with, the aftermath of an incident.

A cyber insurance policy provides a risk-transfer mechanism, and offers some protection from the vast menu of cyber and data-security risks.

Following a cybersecurity event, it is the claims professional who assists the policyholder in navigating the sometimes complex and often stressful ordeal, and it is the claims professional who truly has a 360-degree view of the entire process.
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