Don't expect a payout - or even an insurance policy - if you haven't taken suitable precautions to stop preventable cyber-incidents says Garry Sidaway, adding that deploying best practice is the best insurance.
It's not about being hack-proof says Massimo Merlo.... this is virtually impossible. Rather, you should make your security as robust as possible and ensure your backups are not solely located on your network.
Cyber-crime costs UK businesses about £2.8 billion annually, and also accounts for 16 percent of gross domestic product (GDP).
The Carphone Warehouse cyber-attack shows the potential cost of a cyber-attack but cyber-insurance can help mitigate it, says Simon Gilbert.
Cyber-insurance: Government support to encourage reinsurance, along with quantifying of risk, would make cover for cyber-catastrophe a more viable option says research.