Cyberattacks continue to rise and many organizations — including those with mature cybersecurity programs — are looking to reduce their financial risk through cyber insurance. With the costs of cyberattacks nearly doubling between 2016 and 2019, U.S. insurance entities have responded by becoming more selective about who and what gets covered.
Consequently, many insurance companies are expanding their minimum cybersecurity baseline requirements beyond general “best practices” to a higher level of maturity seen historically in only regulated industries.
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