Why security pros have to work more closely with cyber insurers

Cyber insurance is becoming crucial for companies to mitigate financial losses from cyberattacks and data breaches. With cybercrime set to cost $10.5 trillion annually by 2025, the demand for cyber insurance is growing. Insurers are being forced to find new ways to mitigate cyber risk and protect policyholders. This includes active scanning and continuous risk monitoring to gain real-time views of a company’s digital assets and vulnerabilities. Cybersecurity professionals are advised to align with insurers’ assessment criteria and consider them as sources of intelligence on potential threats.