Gaps Starting to Close in Cyber Insurance Policies

Insurance Attorney Scott Godes warns businesses to make sure they’re covered in the gray areas – referring to the rift between cyber policies and traditional crime coverage. However, some insurance companies, such as Willis Towers Watson, are looking to fill those gaps. Willis  recently announced its CyFi plan – short for cyber insurance and fidelity. The new plan is intended to fill the gap and will serve excess over the crime policy and cyber policy, and will also be available to industries outside of the financial field. Godes notes that the new CyFi plan goes further than any other to date, and makes several recommendations of things to look for when buying policies.