It seems that every other week, someone is touting a new solution to cyber security. They tell you that all we need to do is install our boldly coloured box which leverages algorithms and machine learning. The best part is that YOU don’t have to do any hard work at all! Once it’s installed, you will be secure!
Although cybersecurity insurance can appear attractive, it is important that businesses understand it cannot feasibly serve as a replacement for threat mitigation. The majority of cyber threats are avoided by reaching a baseline standard of security maturity. The investment required to achieve this baseline is generally less than a few years of premiums and the deductible for just one incident.