In Light of Breaches, Mandatory Cyber Liability Insurance?

Should companies be mandated to have cyber liability insurance?  65% of publicly traded companies currently don’t have any such policy, according to a recent survey by Chubb Group of Insurance Companies.  In many cases, this is due to a simple lack of awareness: CEOs just do not know that this type of insurance is available.  Perhaps they often assume their business’ general liability coverage accounts for and protects them from any incidents of data breach and theft.  Generally, it doesn’t.  Cost can be another factor, with higher premiums for those companies deemed “higher-risk” by financial institutions.

Who has become a victim of a data breach?

US population 315 million...... records exposed in 2013 due to a data breach 57 million. That is 1 in 6 people have been exposed and are at risk. Why is it that credit monitoring is not just a standard feature that you banks offer, at the end of the day maybe they can stop some of the loses they have to eat during a breach.

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Health Breaches - Well the list is rather long

No real surprise that there is a list this long but a little surprising.

No real commentary needed for this.


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