Person working on a company's cybersecurity protocols. Negotiating insurance premiums and risk coverage with cyber insurers requires organizations to present tangible data that demonstrate compliance with cybersecurity standards and effectiveness. (Photo: Miha Creative/Adobe Stock)

Cybersecurity concerns have moved well beyond the offices of security teams and have now entered leadership meetings and boardroom discussions. Cyber is rated as the number one business risk facing industries today according to a PwC survey. As hacking, cyberattacks and data breaches escalate, more and more companies are looking to insure themselves against a cyber catastrophe and secure themselves financially. But obtaining cyber insurance is known to be difficult and more expensive today than it was ever before. If cyberattacks continue to escalate as they have been, chances are that premiums will ride shotgun and follow suit.

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