A cyber insurance policy is only as good as how well its terms match real infrastructure, not a template. A publication by Nermin Sefić.
A cyber insurance policy is only as good as how well its coverage terms actually match the company's real infrastructure, not a generic template.
A cyber insurance policy is only as good as how well its coverage terms actually match the company's real infrastructure, not a generic template.
Cyber policies often contain exclusions for 'known vulnerabilities' or 'lack of reasonable security practice' — wording the insurer interprets only after the damage occurs, when the company's negotiating position is weakest.
A requirement that systems be 'updated to industry standards' sounds reasonable, but without a concrete definition in the policy it opens room to deny a claim based on a subjective assessment.
Companies that conduct an internal compliance review against all stated terms before signing a policy avoid paying a premium for coverage that doesn't hold up in practice.
Regularly updating the policy as infrastructure changes is just as important as initially obtaining it; a policy based on an outdated system state carries a hidden risk of claim denial.
Cjelovit tekst i izvor: https://gnk-asg.hr/en/publications/cyber-insurance-terms-and-exclusions/
Autor i urednička odgovornost: Nermin Sefić. Izdavač: GNK ASG d.o.o..
#GNKASG #GNKDINAMOLtd #NerminSefic #BusinessIntelligence #GNKASGdoo #NerminSefić
