Blumira: The Current State of Cyber Insurance

Published on
10/03/2023 03:13 PM

Over the past decade, the cyber insurance industry operated much like the wild west, in which over-eager underwriters wrote policies without fully understanding their risk — or in some cases even understanding cybersecurity at all. But that’s all changing as the industry is starting to standardize.

Rising premiums, changing requirements and a lack of consistency across the cyber insurance industry makes it challenging for organizations to obtain a policy. Now is the time to get clarity on the current cyber insurance landscape and understand the security controls that insurers are requiring.