Cyber Insurance: Separating Fact From FictionAttorney Richard Bortnick Addresses the Myths
Many myths about cyber insurance persist. Attorney Richard Bortnick, in a video interview at Information Security Media Group's recent ISMG Fraud and Breach Prevention Summit in New York offers his perspective on what is fact and what is fiction.
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Among the "myths" Bortnick addresses:
- Cyber insurers fail to pay claims;
- Money spent on cyber insurance would be better spent on security measures to prevent breaches; and
- Small businesses don't get hacked so they don't need cyber insurance.
Bortnick is senior counsel at the law firm Traub Lieberman Straus & Shrewsberry.