Factors that increase the cost of cyber insurance
Your level of risk affects the premiums you’ll pay for your cyber coverage.
Looking at whether your business is in a high-risk industry is one way that insurance companies assess risk. Examples of higher-risk industries include:
- These industries keep all types of customer data on file. Breaches in these industries mean that thousands of customers might see their sensitive data exposed to hackers.
Another factor that raises your costs with cyber insurance is whether your company has previous data breaches.