Cyber attacks are now an everyday risk. Cyber insurance is designed to cushion financial losses. In an emergency, this is complex.
What risks do standard cyber insurance policies actually cover?
Typical exclusions: Intent, gross negligence, inadequate IT security measures
Policyholder obligations before and after a cyber incident
Differentiation from other insurance policies (e.g. D&O, public liability)
Points of contention in regulation: burden of proof, duty to cooperate, reporting deadlines
Recommended actions for contract review and drafting
The focus is on practical tips on how companies:
Identify and avoid gaps in cover,
Meet insurers' compliance requirements,
Proceed with legal certainty in the event of a claim to avoid losing ...