Blogs

Beyond Antivirus & Firewalls: Easy & Cost-Effective SME Cyber Security Solutions Agents Need To Know

Unlike traditional business risks such as fire and workers’ compensation, the cyber risk landscape continues to evolve. As with any relationship, agents must first establish trust and address risks honestly, educate and provide practical and usable recommendations to insured’s to minimize risk. To do so, agents must expand information security knowledge. Those who don’t, risk of losing business to competing agents as well as being dis-intermediated by holistic solutions sold direct by a growing number of savvy and well capitalized on-line insurance and security providers. To many SME’s and their agents, the terms “cybersecurity” and “cyber insurance” trigger equal amounts

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2019 Podcast: Cyber Insurance for CISO’s

Collective Intelligence Podcast, Cyber Insurance for CISOs Cyber insurance and software liability have been hovering over the security industry for the better part of two decades but have decidedly failed to kick down the door and become mainstream. That dynamic may be changing, however. A short track of talks were held last week during the annual Black Hat conference where insurance underwriters, providers, and risk management professionals brought a common understanding of cyber insurance and how it works, its value proposition, what products are available to buyers, a snapshot of claim costs, and market intelligence. In this episode of the Collective Intelligence

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Hack Yourself First: Trends in Cyber Insurance for Small to Medium Enterprise.

Tech-based cyber risk solutions combined with insurance coverage improvements help agents improve close ratios. Almost six in 10 small and medium-size enterprises (SMEs) do not purchase any type of cyber insurance. Only 33% purchase stand-alone coverage. Less than 15% of SMEs are trust currently used cyber defenses to detect and respond to cyber-attacks with two-thirds of SMEs reporting a cyber attack during the last 12 months. Despite aggressive pricing and increasing risk, traditional cyber insurance solutions remain a tough pitch for agents. The good news for agents is new insurers are capitalizing on these market realities with technology driven, broker-friendly

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