Skip Ribbon Commands
Skip to main content
symbol

RIMS


RIMS PROFESSIONAL REPORT: Cyber Insurance - Considerations for Businesses 3/23/2017

 

Exploring Risk Control Packages, First- and Third-Party Coverages Can Help Mitigate Cyber Events
   
NEW YORK (March 23, 2017) — Organizations considering stand-alone cyber coverage should carefully evaluate their risk profile and determine whether more traditional policies provide adequate coverage according to some of the tips offered in a newly released RIMS Professional Report titled, Cyber Insurance: Considerations for Businesses.
 
Authored by Teri Cotton Santos, a member of RIMS External Affairs Committee and senior vice president, chief compliance and risk officer at The Warranty Group, the report explores the potential for traditional policies to cover cyber events, as well as first-party coverages, third-party coverages and additional needs. Additionally, the report provides a series of potential cyber insurance nuances that risk professionals must consider.
 
“Insurance providers are challenged with trying to keep pace with the evolving cyber landscape and develop products that help clients protect their organizations,” said Ms. Cotton Santos. “Working closely with your broker can help insureds purchase coverage that addresses key risks to the organization that can result from a cyber event.”
 
RIMS Professional Report Cyber Insurance: Considerations for Businesses is available in RIMS Risk Knowledge library at www.RIMS.org/RiskKnowledge.  For more information about the Society and to learn about other RIMS educational opportunities, conferences and resources, visit www.RIMS.org.
 

# # #

About RIMS

As the preeminent organization dedicated to educating, engaging and advocating for the global risk community, RIMS, the risk management society™, is a not-for-profit organization representing more than 3,500 corporate, industrial, service, nonprofit, charitable and government entities throughout the world. RIMS has a membership of approximately 11,000 risk practitioners who are located in more than 60 countries. For more information about the Society’s world-leading risk management content, networking, professional development and certification opportunities, visit www.RIMS.org.

​ ​

For more information, contact:

Josh Salter, RIMS communications manager, (212) 655-6059 or jsalter@RIMS.org

POPULAR TOPICS


RIMS MARKETPLACE

Access the most comprehensive directory of solution providers for risk professionals.

myCOI

myCOI's suite of products provides you with the right solution to simplify the tracking process and minimize your risks of an uninsured claim and costly litigation...

RWH Myers

RWH Myers is committed to helping policyholders through business interruption and property damage claims, efficiently and accurately...

Navigant

Navigant represents policyholders in the analysis of losses and preparation of complex insurance claims...