Insurance & Claims

About the Episode

As cybercriminals find new and more efficient ways to reach the long tail of small and medium businesses, cyber insurance and meeting cyber insurance requirements has become an essential element of risk management for organizations of all sizes.

Each cyber attack reminds us of the costs involved in responding to a security incident––ransom and extortion payments, system recovery, investigation, customer notifications and credit protection, public communications services, and other legal expenses.

But while the post-incident role of cyber insurance is well known, many businesses don’t take advantage of the pre-claims services offered by their providers to help prevent attacks, limit their scope and accelerate recovery.

In addition, by working with the insurance provider, businesses can carefully consider the ripple effects that follow an incident, which require specialized expertise about being prepared, understanding and managing unavoidable tradeoffs.

In this episode of Managing Cyber Risk, Catherine Lyle, Head of Claims at Coalition Inc. Insurance joins Mark Sangster and Hillarie McClure to explore why a cyber insurer’s value goes well beyond providing coverage.