Cyber insurance
74
MENTIONS
10
EPISODES
10
PODCASTS
Search complete. 74 mentions across 10 episodes found for "Cyber insurance".
Oct 20, 2026
Daniel StarrGUEST
So that's been a big one.
Daniel StarrGUEST
Recently, there was a really big change in... cyber insurance requirements to where for years they would scan your website, which never made sense to me about if you don't have a payment portal or something like that on your website, like what does that have to do with your risk? Now they're actually wanting to start run scans of your Office 365 environment.
Daniel StarrGUEST
So if you don't have the higher licensing, you don't have the conditional access policies, your premiums on your cyber insurance could double.
Daniel StarrGUEST
So we've kind of had a push from clients to want to start moving to the higher Microsoft licensing levels and stuff like that because of the modern security.
Katherine GoodHOST
How quick will that come into play?
Rob MurrayHOST
And what was the next one?
Greg BotsonGUEST
The other thing is cyber insurance.
Greg BotsonGUEST
You know, they say it's not if you're gonna have a claim, it's when you have a claim, so, you know, we're trying to make sure all our clients and prospective clients have some form of a separate cyber policy, 'cause the cyber insurance that's included in the standard policy is worthless in a lot of cases, depending on, you know, what they provide.
Greg BotsonGUEST
So just having a robust cyber policy is, is really something that we're focusing on and you're, you're probably gonna spend, you know, a company, 1 million to $2 million, and you're probably looking at 12 to $1,500 a year.
Greg BotsonGUEST
So it's, it's a reasonable cost considering.
Greg BotsonGUEST
But one of my longtime clients had a cyber claim two years ago and I think we paid over $230,000, and she said, "Greg, that was the best $2,000 I ever spent and I appreciate you pushing cyber insurance on our company." So it was a, it was a great investment, so ...
Rob MurrayHOST
Well, and I think it's a really cool topic too, because a lot ...
Rob MurrayHOST
Well, and a, and a lot of people don't necessar- I was just saying a lot of people don't understand necessarily what cyber insurance covers.
Aaron LevineHOST
Um, but really a great organization, a great way to connect and really learn more, spend that time one on one getting to know each other and getting to learn more about each other.
Aaron LevineHOST
And I love having the conversation about cybersecurity a little bit 'cause it relates back to the insurance work that I do as a professional, um, with the cyber insurance because as a business owner, if you don't have cyber insurance, you might as well just close your doors because it's insane what's going on right now, and maybe we'll get into this AI Armageddon stuff that I hear all over the news, and you can fill me in on your take on that.
Aaron LevineHOST
But tell me, you quit your job and decided to buy into a franchise system to become an entrepreneur.
Aaron LevineHOST
Wh- why?
31 MINS LATER
Elina GreensteinGUEST
... than maybe somebody that's much more an individual contributor within your organization.
Aaron LevineHOST
Right.
Elina GreensteinGUEST
Right? Um, and just to sort of bring it back to cyber insurance, as you mentioned, like a lot of times there even are companies that take out cyber insurance.
Elina GreensteinGUEST
Like, good for you.
Hongbin JeongHOST
I mean, the new strategy also covers preparations for quantum computing, stronger international cooperation, and investment in Singapore's cybersecurity ecosystem and workforce.
Hongbin JeongHOST
Now, the government is also exploring something called cyber insurance pilots.
Hongbin JeongHOST
Now, what do they mean by cyber insurance?
Weihan GohGUEST
Cyber insurance is, well, essentially like a financial safety net for businesses that suffer cyberattacks, just like how, you know, fire insurance are for businesses that might potentially be affected by a fire.
Hongbin JeongHOST
Mm-hmm.
Weihan GohGUEST
On one hand, I would say that it's something that's useful actually to encourage businesses to improve their security.
Veronica MorganHOST
So we're gonna run through just sort of the main areas that, uh, buyer's agents would look at for insurance.
Veronica MorganHOST
We're gonna run through professional indemnity insurance, public liability insurance, cyber insurance, and other important business insurances.
Veronica MorganHOST
Um, we're not really gonna talk about worker's compensation here, but we will mention that if you are a sole trader, you don't need it yet.
Veronica MorganHOST
But as soon as you start employing somebody, you have to look at worker's compensation, but that's outside of the remit of an insurance broker, so that's why we're not talking about that here.
25 MINS LATER
Polina KesovGUEST
A lot of policies cover subcontractors or contractors on a pre-agreed cost with the insurer, but you would always encourage contractors to have their own policies in place.
Veronica MorganHOST
All right, so that's done public liability now.
Veronica MorganHOST
What about cyber insurance? 'Cause this, I would imagine, is a growing industry as we are more and more aware, and with AI there's, there's more and more risks in this space.
Veronica MorganHOST
So why are buyer's agents in particular increasingly becoming targets for cybercrime?
David BenyonHOST
[upbeat music] Hello, and welcome to the Cyber Insurance Podcast, a new and independent journalist-run podcast interviewing the underwriters, brokers, execs, and experts shaping cyber insurance.
David BenyonHOST
I'm your host, David Benyon, and welcome to episode one, "Cyber's Next Frontier: Closing the SME Protection Gap." I'm joined by Scott Bailey, head of Global Cyber Underwriting at CFC.
David BenyonHOST
And don't worry, yes, you are still listening to the Political Risk Podcast.
David BenyonHOST
I've just added this first inaugural episode of the Cyber Insurance pod to the same feed so that you're aware of this shiny new thing that I've wheeled out into the commercial and specialty insurance markets.
David BenyonHOST
That's if I didn't already hit you with a LinkedIn post or an email already.
David BenyonHOST
Sorry about that.
David BenyonHOST
So please do follow subsequent episodes of the Cyber Insurance Podcast by clicking through one of the links included in the blurb for this episode.
David BenyonHOST
Okay, I've said my bit.
Joe ErleGUEST
Um, it's very inexpensive.
Joe ErleGUEST
I don't wanna say cheap 'cause I don't, I don't think cyber insurance is cheap unless you're, you're buying it on cyberinsurance.com and you're just picking out insurance coverage yourself, then it's cheap.
Joe ErleGUEST
[chuckles] Um, 'cause usually you're just buying third-party coverage and nothing else.
Joe ErleGUEST
But, uh, it's, it's these controls that, uh, people like you, um, Dark Rhino are putting in place that, uh, are help stabilize the insurance company and insurance companies so they can keep offering lower, lower prices and, um, it can stay profitable for the insurance companies at these low prices so it doesn't go up because nobody wants pricing like we had in 2021 and 2022.
Joe PattiHOST
You are actually a very experienced and knowledgeable person in the world of cyber.
Joe PattiHOST
insurance and writing cyber insurance.
Joe PattiHOST
So I've got to think this is something you're seeing a lot these days.
Michelle FayloGUEST
Oh, yes.
Michelle FayloGUEST
It is.
Michelle FayloGUEST
It's very intense.
Michelle FayloGUEST
There's a lot that's developed over the last 10, 20 years in cyber insurance and in the cyber insurance market.
Michelle FayloGUEST
But what has happened is a lot of insurance carriers have really focused on data breaches, failure of security, you know, the release of confidential information, or I would say non-data breach privacy, where it's, you know, the release of some information without actually it being a data breach.
Martin HintonHOST
This is the Cyber Insurance News and Information Podcast.
Martin HintonHOST
I'm Martin Hinton, Executive Editor.
Martin HintonHOST
Every week we talk to the underwriters,
Andrew HorkanGUEST
But effectively, what it means is you might be compliant, but there are things that every company, doesn't matter the size or the security, will accidentally let slip through.
Andrew HorkanGUEST
And that's why continuous monitoring is so important.
Martin HintonHOST
So halfway through the year, they changed something, didn't check in with the people who said that they were compliant with either their cyber insurance or whatever cybersecurity protocol you might want to pick.
Martin HintonHOST
And they weren't.
Martin HintonHOST
And as a result, this very sensitive organization was highly vulnerable.
Jeremy HusonGUEST
So when it gets to that point, we usually have the insurance company involved.
Jeremy HusonGUEST
Most of our clients have cyber insurance.
Jeremy HusonGUEST
We obviously have cyber insurance.
Jeremy HusonGUEST
And then depending on the scale of it as well, the FBI or the Secret Service, they deal a lot with money coming back and being able to track down money that has otherwise gone.
Jeremy HusonGUEST
But it does happen.