Why do cyber insurance claims get denied?
Most often because the facts after the incident do not match what was declared or required before it. Typical reasons are a security control stated in the application that was missing or only partly in place, such as MFA that covered e-mail but not remote access; a late notification to the insurer; an event that falls under an exclusion, such as war or an unpatched known vulnerability where the policy says so; losses outside the cover, such as a fine that cannot be insured; or response firms engaged without the insurer’s consent. Reduce the risk now: answer the questionnaire with the person who runs the systems, keep evidence that each control works, store the insurer’s notification procedure with the incident plan and tell your broker when your set-up changes. NetSenX cannot make a claim succeed. It helps with one part: a dated record of what the network showed and of actions and changes in your account.
General information, not legal advice. National laws can add to the EU texts quoted here, for example deadlines, forms or reporting channels: check your own country's rules.
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