Insurers face a potential double whammy when it comes to cybersecurity threats. Like other companies, they must be vigilant about protecting the sensitive data they collect and store from hacks and breaches. On the other hand, insurers also are responsible for paying for claims when a breach occurs. Insurers are scrambling to craft new coverages in the wake of new risks and liabilities, while insurance regulators are scrambling to implement enhanced regulations requiring insurers to meet heightened cybersecurity See more +
Insurers face a potential double whammy when it comes to cybersecurity threats. Like other companies, they must be vigilant about protecting the sensitive data they collect and store from hacks and breaches. On the other hand, insurers also are responsible for paying for claims when a breach occurs. Insurers are scrambling to craft new coverages in the wake of new risks and liabilities, while insurance regulators are scrambling to implement enhanced regulations requiring insurers to meet heightened cybersecurity standards.
Insurance litigation attorney John Pitblado and former criminal Assistant U.S. Attorney and Computer Hacking and Intellectual Property prosecutor Joseph Swanson discuss hot topics in cyber coverage and the business of cyber insurance in this "CFJB on Cyber" podcast.
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