With cybercrime becoming a significant problem, the role of the insurer in covering losses from cyberattacks is coming into question for many companies. Will general insurance cover direct business losses from cyberattacks, or is a specific cybersecurity policy necessary? What attacks are never covered, even if the insured holds a cybersecurity policy? Since cybercrime is a new area, the answers to these questions remain murky.
In this article, Audit Analytics explores recent trends in cybercrime, including insurance payout pushback and what companies can expect to face in the near future.