10 things to consider before purchasing cyber insurance

Data breaches have become more common in recent years, leading to increased interest in cyber insurance within the healthcare industry. A recent report suggests that organizations should involve leaders from various departments, such as IT, risk management, privacy, compliance, and legal, when evaluating the need for cyber coverage. The report also recommends considering factors such as the company’s risk of a data breach, available financial resources, current insurance coverage, and policy options before purchasing cyber insurance. A comprehensive risk assessment can help identify and mitigate security gaps, potentially lowering insurance premiums.