The Target Data Breach – Changing Cyber Risk Insurance

In addition to gaining massive media attention, the Target data breach is also changing the nature of Cyber Risk Insurance.  Key changes, discussed below in more detail:Risk Management works – this could have been prevented Liability coverage in a Cyber Risk Insurance is now critical Underwriters will accelerate their review of their own offerings – underwriting, policy forms and pricing – and the market will tighten Most companies will buy Cyber Risk Insurance Smaller organizations will closely review the coverage they have – is it adequate? The data breach itself is fascinating – see here at BloombergBusinessweek and here at KrebsonSecurity for specific accounts of what happened.  It shows that risk management works – this breach could have been prevented, according to BloombergBusinessweek:The story they …


Read More: The Target Data Breach – Changing Cyber Risk Insurance