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.
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.