Cyber insurance is evolving in response to increasing cybersecurity threats and a competitive market landscape. Insurers are adjusting their policies to account for the rising costs associated with cyber incidents, leading to higher premiums and stricter requirements for policyholders. As companies seek coverage, they are faced with challenges related to accurately assessing their cyber risk and navigating the complex underwriting process, which is becoming more rigorous in light of recent high-profile attacks. The article highlights the need for businesses to adopt robust cybersecurity measures to secure favorable insurance terms.
