Q: What can businesses do to make themselves more attractive to carriers? Q: Do tools like security rating services play a part in a company’s policy pricing? Q: How is the price of a cyber insurance policy calculated?

Q: What are the most important cyber insurance policy coverages for businesses? Q: What is cyber insurance and why is it important? Watch the full webinar or keep reading for a straightforward breakdown of cyber insurance requirements and trends to help you reduce cyber risk. To make sense of the rapidly changing market, I went right the source and reached out to Tim Logan, VP of Insurance at iBynd, an InsurTech broker that specializes in cyber insurance and is licensed in 50 states. Unsurprisingly, questions asked on new applications have led to mass confusion for enterprises trying to secure or renew their cyber insurance policy. In response, carriers continue to raise premiums, decrease policy limits, and mandate new security requirements.

The dramatic increase in costly, crippling attacks like SolarWinds and Colonial Pipelines has accelerated the demand for cyber insurance policies.

While cyber insurance has been around for almost 20 years, it’s the first time the product has faced a hard market. Download Trend Micro's Guide to Cyber Insurance

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