During our “Risk Management 101: Cyber Insurance Fundamentals” podcast, we explain the three basic steps to reining in cyber risk: access, manage, and be ready.

We review:

• The two types of cyber insurance: first-party insurance and third-party coverage or liability insurance.
• How insurance protects against cyber-extortion and ransomware.
• Vicarious liability.
• Why insurance is an important part of an organization’s cyber defenses but not the only part.

We wrap up by touching on trends in cyber insurance purchasing patterns and in the cyber insurance market.

_{About Marsh’s Risk Management and Insurance Podcast}

_{Marsh’s Risk Management and Insurance Podcast series offers insight into the intricacies of the three major lines of commercial insurance coverage. The series features two content tracks on best practices in property, casualty, and financial and professional liability insurance: RM 101 and the more advanced RM 201*. This educational offering is designed to help risk professionals and individuals with risk management and insurance responsibilities gain a fundamental understanding of the major commercial insurance lines and related risk management strategies.}

_{*RM 201 episodes to be released in 2017.}

Read the Transcript.

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