“Where do cyber insurance savings actually come from?”
“Cast a wide net; you will not get discounts on controls alone.” — Will Brooks.
How will you unlock the cyber insurance gate? Does your broker have access to good cyber policies and can communicate those benefits? Too many bad policies still exist in the market. When you are shopping for a policy, a broker’s access and insights are vital for savings.
- Some areas of the cyber market are softening — your client may be getting inadequate coverage and not coming to you to boost their security.
- Your policy’s pricing depends on the carrier and how they view your cyber posture.
- Transparency over all. Do not check “Yes” on the cybersecurity applications if those controls are not yet in place — carriers will pull terms if you lie.
- One way brokers can help with savings? By helping you with a single unstacked comprehensive policy versus several stacked policies. Learn more in the video below.
Reach out to FifthWall Solutions to simplify cyber insurance for you and your clients.