A cyber insurance policy is an increasingly essential element in the enterprise risk management toolkit. But a first-time cyber insurance purchaser may be hard put to understand what coverage the insurer is selling and whether that coverage is a proper fit for its own risk profile. With little standardization among cyber policies’ wordings, confusing labels for their covered perils, and minimal interpretive guidance from the case law to date, a cyber insurance buyer trying to evaluate a new proposed policy may hardly know where to focus first.
The following are our nominees for the top 10 issues that prospective cyber insureds should focus on when they review a new cyber policy—or even the renewal of an old one.