Experts: Cyber Insurance Market Full of ‘Trap Doors’

Experts say the insurance industry lacks common standards for cybersecurity insurance, so buyers should take extra care to ensure they know what kind of policy they’re buying and what is covered. Cyber policies can be complex and carriers often apply different interpretations of the same terms, meaning it can be difficult for a policy holder to understand their coverage. Because cyber coverage is new and evolving, even many insurance brokers don’t understand the nuances of coverage requirements and policy provisions.

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