Cyber Claims Examples
At our recent Cyber insurance and claims update webinar (click here to view webinar recording), you told us that one of the biggest challenges you face in discussing cyber insurance is the wrongful belief held by clients that by outsourcing their IT functions to cloud technology and managed IT service providers, that they are then automatically protected from cyber risks affecting their business.
While relying on cloud and other third party hosted solutions can offer businesses numerous benefits, this claim provides a good example of how the outsourcing of technology does not equate to the outsourcing of cyber risk – and that a cyber insurance policy offers significant value for an insured, regardless of whether they use on premises or hosted technologies.
It also highlights how important it is for brokers to understand how a cyber insurance policy may respond to incidents affecting cloud and other third party hosted technologies, to ensure the coverage they recommend is appropriate and fit for purpose for their clients.
For a full list of appetite & underwriting capabilities for Cyber Insurance, get in touch or contact one of your local DUAL underwriters.