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Firms with poor cyber protection at risk of being uninsurable

Posted On: Sep. 7, 2021 9:58 AM CST



A report said that many Australian companies are at risk of becoming uninsurable in the absence of adequate cyber risk mitigation measures, as insurers become stricter in underwriting cyber risks amid increasing cyber attacks and soaring costs, SmartCompany reported. The report by Australian firm Pitcher Partners Advisors Proprietary Ltd. said that business leaders also lack the understanding of coverage that their cyber insurance policies provide.