Ride the Lightning
Cybersecurity and Future of Law Practice Blog
by Sharon D. Nelson Esq., President of Sensei Enterprises, Inc.
BEWARE: 10 Things Your Cyberinsurance Policy May NOT Cover
January 25, 2018
As DARKReading noted in a post on January 23rd, there are no "standard provisions" in cyberinsurance policies – they are all over the map in what they do – and do not – cover. Frequently, law firms and other businesses think they are covered for specific things, when they are not.
Here are 10 costs that people most often mistakenly believe are covered.
- Financial loss during downtime.
- Losses incurred during a policy "waiting time."
- Third-party mistakes.
- New hardware.
- Software upgrades.
- Social engineering, including business e-mail compromise (BEC) attacks.
- Bodily injury/property damage.
- Fines and penalties issued by the Payment Card industry.
- Reputation damage.
- Loss from account takeover schemes.
Mind you, you may have a wonderful policy that includes all of things or at least a good policy that includes some of them. And you pay more for some of these things, which is always a factor in purchase decisions. But this list includes some of the misapprehensions about coverage most often experienced. Take a look at the post to get a fuller look at all 10 costs – and then go check your cyberinsurance policy to see if they are covered.
And if you don't have a cyberinsurance policy, time's a-wasting . . . .
E-mail: Phone: 703-359-0700
Digital Forensics/Information Security/Information Technology
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