Hello is it cyber you’re looking for.
Welcome to our beginners guide to cyber insurance. Step one is all about
identifying your cyber risk so you’ll first want to hatch a plan and then
you’ll probably want it pulled a discovery workshop where you outline key
scenarios and explore them in detail to understand what they mean for your
organization. The next step is to prepare your submission to showcase your
cybersecurity maturity in this step you may also want to quantify your risk
level based on the scenarios that you outlined in the prior step finally
you’ll want to analyze the gaps in the overlaps in your current insurance
portfolio to create your custom cyber insurance specification. Step three is
all about translating the earlier steps into your specific coverage requirements
or even creating a fully bespoke cyber insurance wording this is where you’ll
design your insurance program and execute your marketing plan with the
global insurance market this is also when you’ll likely need to present your
new insurance solution to the board or senior management after you’ve received
approval for your new cyber insurance program. Don’t forget about reinforcing the new coverage internally this may include
holding onboarding sessions to cement escalation and the claims or incident
reporting process while validating the incident response vendors that you’ve
selected you’ll also want to include your claims advocates in this process to
make sure that you have smooth management of communication and
escalation should you need to use your new policy