Cyber insurance can be your worst nightmare, best friend

LAS VEGAS — Cyber insurance can pay out millions of dollars to cover the cost of data breach liability, but buying the policies can be a nightmare for info security pros, and premiums for similar coverage can vary wildly, an Interop audience was told.

On the flip side, the insurance companies lack underwriters with IT knowledge, a good model for assessing risk, a common vocabulary to discuss policies clearly, and face a looming threat that a single successful attack of just the wrong kind could mean a major financial hit, says Dave Bradford, co-founder and chief strategy officer at Advisens.

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