The Cyber Coverage Jungle: How To Cut Your Way Through

What's a risk manager to do? The "cyber" insurance marketplace can seem like an impenetrable thicket filled with a baffling array of disparate, disconnected coverages, a lack of any uniformity in policy wording, vast disparities in cost, and little available guidance. Comparing the quality and cost-effectiveness of competing products is a daunting task. It's enough to make a risk manager's headache: How do I choose among the products the broker has presented to me? Am I buying the right types of coverage, in the right amounts, and at the right price? How can I demonstrate to my management that I am making the right choice?

The challenge is often compounded because the company approaches the purchasing decision from the wrong direction. When a company decides it needs cyber coverage, it generally starts by asking its broker: What's available in the marketplace?  What's the broadest coverage I can get at the best price? The broker then collects basic information about