Cyber Insurance vs. Cybersecurity: Cover or Protection—Which Do You Really Need?
Download MP3đź“Ś Episode Highlights:
- Explore the key differences between cyber insurance and cybersecurity.
- Learn what Forbes has to say about cyber risk protection.
- Insights from a team that operates both a cyber insurance agency and a licensed investigative agency.
- Understand how cyber insurance protects against financial losses after a cyberattack.
- Discover how cybersecurity focuses on preventing the attack in the first place by protecting data, software, and hardware.
- Learn how traditional vs. modern underwriting works in the cyber insurance industry.
- Why risk-based underwriting is replacing old loss-based models.
- Comparison with real estate title insurance and how prevention reduces claim rates.
- What progressive insurers are doing differently:
- Scanning your company’s domain and systems.
- Profiling your risk based on actual security posture, not just industry classification.
- Common policy requirements today:
- Multi-factor authentication (MFA)
- Regular security patching
- Penetration testing access
- The importance of custom risk analysis versus getting grouped with risky businesses.
- How modern carriers collect information through digital forms and even voice-response portals.
- Why now is the time to consider cyber liability coverage, even for small businesses.
- Estimated cost for most small-to-medium companies:
- Around $1,000–$1,500 per year, depending on risk level and employee count.
- Get access to best practice lists and more at riskcoverage.com.
- The future: 50%+ of companies are expected to carry cyber insurance within 2–3 years.
đź”— Resources & Contact:
- Visit: riskcoverage.com
- Contact us via email or phone (details on website)
