For cyber insurance, some technology leads to higher premiums

August 16, 2022

The Panaseer Team

Though cyber insurance demand is exceeding supply and companies might receive less coverage with higher premiums, experts say there are ways enterprises can reduce risk.

With increasing demand and dangerous third-party risks, cyber insurance carriers are taking a much harder look at enterprises’ security postures — to the point where they’re limiting or denying coverage based on the presence of certain technologies.

Cyber insurance premiums and payouts have risen significantly over the past three years as attack surfaces and adversary techniques have expanded. Insurance carriers struggling to keep pace with the rapid evolution of cybersecurity risks have required customers to comply with a growing list of requirements, such as implementing multifactor authentication (MFA). But the costs of cyber attacks have climbed so sharply that cyber insurance companies are going a step further…

Read the full article from Tech Target.