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TECH BUYER May 2018 - IDC Perspective - Doc # US43760718

Cybersecurity Insurance: Five Things CIOs and Businesses Need to Know

By: Mike ChappleAdjunct Research Advisor, Sabitha MajukumarSenior Research Analyst, Worldwide Insurance Strategies

Table of Contents

Executive Snapshot

Figure: Executive Snapshot: Cybersecurity Insurance — Critical Knowledge for CIOs

Situation Overview

What Is Cybersecurity Insurance?

Critical Knowledge for Businesses

Figure: Cybersecurity Insurance: Five Critical Principles

1. The Direct Costs of a Cybersecurity Breach Can Be Significant

Key Takeaways

2. Not All Cybersecurity Losses Are Insurable

Key Takeaways

3. You May Already Be Covered

Key Takeaways

4. Insurers Require That You Reveal Sensitive Information to Them

Key Takeaways

5. You Must Read the Fine Print

Key Takeaways

Advice for the Technology Leader

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