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Cyber Liability Insurance

Explore the possibilities unlocked by cyber risk scores

 

Cyber liability insurance is an effective way to transfer risk.
Cyber risk scoring helps both insurers and insured understand the risks so that premiums, terms, and coverage levels support stakeholders and encourage secure outcomes.

 

Possibilities

As cyber liability insurance becomes more commonplace, both insurers and insured need accurate ways of understanding risks. Insurers suffer when they can't manage the risk pool. Insured suffer when premiums, terms, and coverage aren't commensurate with their security profile.

Cyber risk scores are standardized and easily understood by both parties, significantly improving the efficiency for all stakeholders.

When Providing Insurance

Building and monitoring a pool of insured is difficult without reliable data sources. Some cyber risk scores are based on inferential data, and periodic assessments are cost prohibitive. Cyber risk scores based on direct observation built for scale alleviate these pain points.

  • Pre-approval phase to qualify candidates

  • Adjust premiums defensibly

  • Persistent diligence and risk monitoring

  • Engage with insured to improve security and reduce mutual risk

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When Purchasing Insurance

Your insurer likely requires that you consent to periodic assessments as a part of your policy. So in addition to negotiating your premiums and coverage, you'll need to be prepared for inspection.

  • Cyber risk scores guarantee that periodic assessments are understood by all stakeholders

  • Engage with your insurer to share the information they need without divulging unnecessary and potentially harmful technical data

  • Use favorable cyber risk scores and defensible leverage to negotiate premiums, terms, and limits of coverage

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