Does cyber insurance actually incentivize organizations to improve their security?

Security & GRC
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Group IT Manager in Travel and Hospitality5 years ago

Not at all. It is barely a risk loss mitigation

Senior Information Security Manager in Software5 years ago

Ask it like this: Does auto insurance actually incentivize people to drive more safely?

 

Answer is: it depends on the policy.

 

If the policy gives specific incentives, it will improve things. If not, often status quo.

VP of Product Management in Software5 years ago

Interesting. Is it in the nice-to-have category? Or must have?

Sr. Director, Head of Global Omnichannel Capabilities Delivery Center in Manufacturing5 years ago

Nope... just CYA

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CTO in Software5 years ago

Does car insurance actually incentivize drivers to improve their driving ability? Flippant answer, but in practice, cyber insurance at best allows one to de-risk in event of a major issue, but doesn't do anything to improve overall security posture. That is up to Leadership.

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