The balance between risk management and cyber insurance

Only 19% of cybersecurity leaders feel confident about their organizations’ resilience to cyber attacks, leading to a surge in interest in cyber insurance. However, as successful attacks increase, insurance prices are rising apace and coverage is dropping. Effective security needs an integrated approach, balancing people, processes, technology, and cyber insurance, and collaborating with insurance providers could bring benefits. Regardless, firms should work with an “already breached” mindset and have a contingency plan in place.