InSecurity Podcast: Stanton Gatewood and Jeffrey Smith Discuss Whether Cyber Insurance is Really a Thing
This episode is about cybersecurity insurance. We’ll discuss what it means to have it, what it means to need it, and whether it is even a real thing. Don’t worry, we’re not going to spend the episode selling insurance to you. But we feel it’s important to do a show about it, because the truth is even people with decades of experience in either cybersecurity or insurance were quite resistant – until quite recently – to the idea of combining the two. That’s the case, with our guests today, who were skeptical about cybersecurity insurance but are now full supporters.
Cyber insurance is getting a lot of press lately. Not all of which is favorable. Many in the information security business continue to view cyber insurance as a sham, suggesting premium costs are better put toward more robust security products and services. In support of this position, we put together this list of reasons NOT to purchase stand-alone cyber insurance, namely: Your employees don’t make mistakes. You purchase and employ the latest security solutions, all sporting perfect reviews from Gartner. All of your employees adhere to corporate policies, take monthly training courses, never send valuable information to incorrect recipients via
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