Although the concept of cyber insurance has been around for decades, cyber insurance policies have only recently seen significant increases in adoption, largely due to dramatic increases in cyberattacks.
Cyber insurance policy prices, coverage, and limits are constantly changing, largely dependent on fluctuations in ransomware attacks and how insurers calculate customer risk. But how is that risk calculated?
There's a dearth of solid legal precedent with regard to cyber insurance policy language, coverage, and exemptions. In recent years, court rulings have failed to establish solid ground rules.