New forms of insurance, intended to help businesses protect against hackers, will begin to enter the marketplace.
Rather than simply covering the theft of basic information, insurers will also offer protection against damage to reputation, the loss of operational capacity, and the costs for system upgrades, as well as liabilities due as the result of lawsuits.
As organizations develop their FY 2020-2021 budgets, they should investigate cyber risk insurance.
This trend is part of our section on Security. Other trends in this section include:
Accountants, Advertising and Public Relations, Aerospace, Agriculture, Airlines, Alternative Energy Production & Services, Architectural Services, Auto Manufacturers, Banking, Bars & Restaurants, Beauty, Beer, Wine and Liquor, Book Publishers, Broadcasters, Radio and TV, Builders/General Contractors, Cable & Satellite TV Production & Distribution, Casinos/Gambling, Chemical & Related Manufacturing, Civil Servants/Public Officials, Clergy & Religious Organizations, Clothing Manufacturing, Commercial TV & Radio Stations, Construction, Corporate Boards & Directors, Covid-19/ coronavirus, CPG, Cruise Ships & Lines, Defense, Diplomacy, Doctors & Other Health Professionals, Drug Manufacturers, Education Colleges & Universities, Education K-12, Education Online, Education Trades, Electric Utilities, Entertainment Industry, Environment, Finance, Foreign & Defense Policy, Gas & Oil, Government - International, Government - National, Government - State and Local, Health Professionals, Heavy Industry, Hedge Funds, Hospitality, Hotels/Motels/Tourism, Human Resources, Information Technology, Infrastructure, Insurance, Law Enforcement, Lawyers/Law Firms/Legal Industry, Lobbyists, Luxury Retail, Magazines, Manufacturing, National Security, News Media, Non-profits/Foundations/Philanthropists, Online Media, Pharmaceuticals/Health Products, Private Equity, Professional Sports, Radio/TV Stations, Real Estate, Retail, Technology Company, Telecommunications, Trade Associations, Transportation, Travel Industry, TV Production, TV/Movies/Music, Urban Planning, Utilities, Venture Capital, Waste Management, Work (Future of)