Summary of Google Is Partnering with Cyber Insurance Giants. Here’s What It Means for the Future of Cloud Security and Insurance

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Google Is Partnering with Cyber Insurance Giants. Here’s What It Means for the Future of Cloud Security and Insurance summary

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News of data breaches, security hacks and compromised personal information are showing up like clockwork, suggesting a frightening new truth: It’s no longer a question of if a company will face a data breach, but when. As information becomes more valuable and those who would steal that information become more resourceful, cybersecurity is more important than ever. But what if it’s not enough? This report from CB Insights suggests that cybersecurity paired with cyber insurance is the only way to give companies peace of mind.

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CB Insights is a technology insights platform that analyzes markets, business relationships, growth, competition and innovation.

Summary

Companies have traditionally focused on cybersecurity, but spending on cyber insurance is on the rise.

More companies are moving their data to the cloud, despite realistic fears over cyber losses. Companies have generally focused their risk management efforts on cybersecurity, counting on cybersecurity services to identify and react to cyberattacks, protecting data. Despite cybersecurity successes, some attacks will be successful. That’s where cyber insurance comes into play. 

Cyber insurance will help companies recover financially after inevitable data...


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