06/11/2023 08:54 PM | Click to read full article
When you buy car insurance, you do so on the promise that you will demonstrate good behaviour. The same principle applies to cyber insurance. As an organisation, you are 100% responsible for your cybersecurity, and the insurance providers are there in the event of the unthinkable and unpreventable. Munich Re estimates cyber premiums will reach a value of $22bn by 2025. However, as the volume of cyberattacks increases, insurance cover is now harder to get.