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Daily Business Review: Settlement Dilemma in Data Breach Actions: Risk, Strategy, and Legal Insights

Companies are constantly under attack from hackers as data breaches have become not a matter of if, but when a company will face them. Ten years ago, cybersecurity insurance policies were rare and now they are the norm as cyberattacks have since branched out to attack both larger companies and smaller firms.

In the Daily Business Review, NSI Insurance Group‘s Senior Vice President and Commercial Lines Leader, Juan Hernandez said, “The cybersecurity insurance policy application process used to be a one- or two-page document, maybe five to seven years ago. Nowadays, it’s very complex and sometimes requires a chief information officer or an information technology professional to complete it. There is often further discussion with those information professionals, underwriters, and the insurance agent to ensure that we are covering all outcomes for the client.”

Read the full article here.