Coverage gaps emerge where policies diverge from actual risk
Peter Foster, chairman of global FINEX cyber and cyber risk solutions at Willis, said differences in how policies are constructed leave some organizations exposed where they most need protection. “Cyber insurance cover varies widely, which is why organisations must understand what they have in place and ensure it aligns with their risk exposures. When cover doesn’t reflect reality, organisations risk critical gaps where protection is needed most, while paying for cover that offers little real value,” Foster said. Organisations seeking the strongest value from cyber insurance, he added, should ensure coverage is designed around the claims patterns most likely to affect their specific risk profile.
