Myth #3: Cyber insurance is easy to get
As technology advances, so do the occurrences of cyber incidents. With small and medium-sized businesses being the most susceptible targets of cybercriminals due to a lack of enterprise-level protection, the likelihood of an attack is high. Consequently, insurers are reluctant to provide coverage since the risks are significant. While policies are still available, they are becoming more expensive and difficult to obtain.
Myth #4: If I have a cyber insurance policy, my claims will be covered in case there’s an incident
If you can’t prove that you’ve complied with your cyber insurance policy’s prerequisites, your claim is likely to be rejected. This is why you might want to consider partnering with an IT service provider. An expert IT service provider can help you remain compliant with your cyber insurance policy as well as provide evidence of such compliance.