Cyberattacks continue to increase in frequency and sophistication, often outpacing efforts to combat them. Despite growing investments in security tools and employee training, the vast majority of organizations experience one or more security incidents every year, and the costs of those incidents are increasing.

Cyber insurance provides a critical hedge against financial losses stemming from cyberattacks, but these policies have become more expensive and difficult to obtain. Following years of increasingly sophisticated and expensive attacks and breaches, insurers are raising premiums and imposing stricter security requirements in efforts to reduce their exposure.