Following a cyber event, a company’s electronic data is particularly vulnerable and it is easy for critical evidence to be lost. (Photo: Shutterstock)Cyber risks are constantly changing as bad actors develop new ways to use malware, phishing schemes, distributed denial of service attacks and other applications to cause disruptions and capture information from computer systems worldwide. Their goal can be obtaining money through ransom, seizing intellectual property or proprietary information, or causing damage to infrastructure and physical property. No entity is immune to these risks, which means the number of claims will only increase.
Related: 5 takeaways from recent cybersecurity developments by Colorado & the SEC
Keys to managing cyber claims
A new report from RIMS provides insights for risk professionals tasked with managing their organization’s cyber risks. “A Guide to Cyber Insurance” finds that “while cyber risk management policies are necessary for every organization, reducing a category of risk to zero is impossible. Cyber insurance can help cover the gaps between a robust risk management program and…
