Today, almost all organizations have an online presence. Conducting business online has its advantages, including speed, efficiency and convenience. However, it also opens the door to sophisticated cyberattacks. With the shift to remote work, cybercrime has exploded in the last two years. The average cost of a data breach exceeded $4.24 million in 2021, the highest average cost in the 17-year history of Ponemon Institute’s Cost of a Data Breach Report.
Cyber insurance isn’t just for large enterprises; organizations of all sizes are considering cyber insurance in response to the uptick in frequency, efficacy and cost of cyberattacks. Understanding the common reasons for claim denials is key to preventing them. Download our checklist to learn about five common reasons why cyber liability insurance companies deny claims and how you can prepare to avoid any hassles.