Data Breach Report Shows Cyberinsurance Not A Cure-All

Law360, Los Angeles (March 15, 2016, 8:57 PM EDT) -- A recent report on how companies are managing cyber risks shows that cyberinsurance isn't a panacea for all the problems that can result from a data breach and indicates that policyholders should consider bringing in outside firms to help mitigate the fallout from a breach, according to experts.

Here, Law360 examines the key takeaways from the report for policyholders.

Cyber Policies Aren't One-Size-Fits-All

The report, which was compiled by insurance analytics company Advisen Ltd. and data breach response firm ID Experts based on survey responses from 203 risk-management professionals, concluded that cyberinsurance is largely designed to protect against "low-frequency but high-severity"...

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