Is there an advantage to self-insuring vs. paying for a cyber insurance policy?

I think self-insuring is a smarter way to go, because you're more directed. You have a better sense of your own risk and where the weaknesses are than the security department of the insurance company.

You're really starting to see companies self-insure because they probably know and have more insight into where the areas of weakness are in their supply chain and revenue pipeline. If I can tailor my $100 million insurance commitment to a very specific portion of my revenue and of my pipeline, I'm being that much more intentional, putting aside anything that's catastrophic, like anything that wipes out a specific region of the country.