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CPargermer t1_j25vqdm wrote

Cyber insurance has been around for years though to specifically cover damage from cyber crimes. Like homeowner's insurance covers many things that can happen to your home, but some forms of loss/damage require specific coverage. It's no-more bad faith than than.

Cyber insurance may be priced differently by company based on the specific digital risk and whatever mitigating factors the company have in place (software, hardware, security policies), like physical insurance may be priced differently for physical mitigating factors (fences, locking mechanisms, cameras, security personnel).


OCGHand t1_j290g7n wrote

Cyber Insurance premiums are high now, asking businesses questions, provide proof of their IT process, and sometimes deny their claim when businesses are hit with ransomware because of business negligence in their IT process.