Cyber security insurance is on the mind of every CISO and leadership team. This coverage has become essential to ensure protection against ransomware attacks, data breaches, & so much more. The cyber security insurance is now an area that requires a significant dedication of time, money, resources, & expertise.
Cyber Security Insurance is a necessary investment to reduce financial risk within your organization. Cyber risks are dynamic and constantly fluctuating and so are the policies that support & cover them. Procurement of this category can often be hindered by its complexity. PAAS benchmarks serve to eliminate inconsistencies and provide you with the most OPTIMAL agreement to protect your investments.
Areas affected by Cyber Security Insurance
Forensic investigations
Phishing
Litigation expenses
Regulatory defense expenses/fines
Crisis management expenses
Business interruption
Cyber extortion
With security concerns rising in importance is it essential for your procurement team to prioritize cyber security insurance. This effort includes the importance of organizational alignment across leadership & their cross-functional teams. For cyber security insurance specifically, alignment between the CISO, CIO, CFO, & CPO is essential to ensure precise requirements for the scope & definition of a proper budget.
PAAS has seen a 40% swing in pricing on the same coverage across multiple providers. Due to the recent emergence & importance of this business investment, policy providers are using uniqueness as leverage to control prices within the market. PAAS comprehensive Cyber Security Insurance Benchmarks serve to secure the OPTIMAL contract, with proper pricing, policy coverage, and protection for your organization.
About PAAS
PAAS serves as an extension of your team to help promote this alignment and provide you with the resources to help streamline procurement efforts. With our extension into Cyber Security Insurance, PAAS is now able to provide in-depth pricing comparisons and full terms & conditions analyses. Our data on over 250+ cyber security insurance providers can help provide immediate savings outcomes for your organization.