Is there a view on the validity of cyber insurance in the event of a regulatory breach?

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Is there a view on the validity of cyber insurance in the event of a regulatory breach? With the volume of cyber regulation being developed globally, that appears to affect many industry sectors. Many organizations may be covered by cyber regulations coming from Government, market or industry regulators. Regulation that in some instances originates from outside a country and affects organizations that deliver products and services across complex international supply chains.

1. What could be the impact on an organizations cyberinsurance policies if it was deemed to not have complied with its regulatory obligations.
2. What would a cyber insurance company payout in the short to support a client ‘stand up’ their organization in the event of a cyber attack?
3. Will or can new and unique cyber insurance policies address cyber risk in the event of a failure of regulatory compliance?

As cyber regulation develops cyber compliance is being transferred from cyber insurance to the board room. Increasing legal, regulatory and insurance risk.

Any thoughts?

Ted Dziekanowski

#cyberinsurance #cyberriskmanagement #cyberlaw #cybersecurity

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