36 SECOND READ
How many purchases are you willing to make without a guarantee, return policy, or service level agreement? Not many — and yet IT security, which is one of the more important investments your business can make, comes with no guarantees. Intriguingly, it turns out the security industry is considering doing something about that, at least according to a panel on cyber insurance held at the 2016 Black Hat global security conference.
Speaker Jeremiah Grossman cited several IT security firms that now provide cyber security riders that tie into a company's general liability insurance. For example, Grossman's own employer, SentinalOne, charges about $20,000 annually for coverage that will pay as much as $1,000 per endpoint, up to a maximum of $1 million, if a customer experiences a ransomware attack.
For all the attention paid to massive data breaches, smaller businesses are no less vulnerable than larger ones. Let us help you assess your company's risk of cyber crime and sort through your cyber insurance options.