5 Reasons Why Cyber Insurance Claims Get Denied

Denied Cyber Insurance Claims
  • January 29, 2024

5 Reasons Why Cyber Insurance Claims Get Denied

It is essential to organize your affairs, particularly when it comes to cyber insurance claims. Our aim is to assist you in navigating common reasons for claim denials and providing guidance on prevention.

Insufficient Prevention Practices
Recommendation: Strengthen your security measures. If you're unsure where to start, a network assessment is an excellent initial step.

Issues Related to Third-Parties or Contractors
Recommendation: Thoroughly vet your current and potential service providers. Choose partners who prioritize cybersecurity.

Errors in Documentation
Recommendation: Maintain meticulous records of all losses and associated costs to support your claims.

Failure to Document Preventive Measures
Recommendation: Ensure comprehensive documentation of all cybersecurity policies and procedures, covering staff training, incident management, and provide evidence of their implementation.

Limitations in Coverage Post-Interruption
Recommendation: Fully understand your policy terms and consider negotiating for extended coverage. Keep an updated and effective recovery plan in place.

Download our concise guide, and share these insights with your organizational leaders. For a thorough review of your IT infrastructure, connect with Prime Secured for a complimentary network assessment.


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