In a new article on BetaNews, Tenable’s Jeffrey Man discusses the viability of cybersecurity insurance for companies that experience payment card breaches. “Is cyber insurance your last line of defense?” examines the impact of litigation on retailer liability and PCI compliance.
The recent spate of payment card breaches that have plagued the retail industry this year has prompted many merchants to consider investing in cybersecurity liability insurance policies to offset the costs associated with a breach recovery. These companies often make this choice based on the belief that the money they’ve spent to comply with industry security standards has failed to prevent these breaches from occurring, and there seems to be no other alternative. At least one recently filed claim has led to a lawsuit that will put these cybersecurity insurance policies to the test.