Accusation of insurer/broker cyber insurance ‘scaremongering ’is wrong
31 Jan 2019As someone who has reviewed 30 different cyber insurance policies for Cyber|Decider, (an on-line cyber policy wording comparison tool), I was surprised by the comments contained in a recent Insurance Age article.
Brokers and insurers were accused of ‘scaremongering’ to make companies buy cyber policies. Even more surprising was the suggestion that instead of buying a specific policy, businesses should look to extend their existing policies to cover their cyber risk, for example extending the professional indemnity policy to cover damages for third party data breaches.