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
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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We're revolutionizing the way the world talks about cyber.
