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- Title
Cyber Insurance 101: Coverage Options and Provider Expectations.
- Authors
Sterna, Stan; Graham, Nicole
- Abstract
The article discusses the increasing threat of cyber incidents in 2023 and highlights the vulnerability of CPA firms to these attacks. Hackers are now targeting smaller organizations, including CPA firms, due to their aggregation of financial and personal data, as well as their access to client funds. Insurers are demanding more from CPA firms in terms of cybersecurity protocols, including software updates, data classification, system security, training and testing, backups and security planning, and vendor management. CPA firms should proactively assess their cybersecurity efforts in these areas to facilitate the process of securing cyber insurance coverage.
- Subjects
INSURANCE; BUSINESS continuity planning; INSURANCE companies; REMOTE access networks; INDEPENDENT contractors; INFORMATION technology security; COMPUTER security vulnerabilities
- Publication
CPA Journal, 2023, Vol 93, Issue 11/12, p16
- ISSN
0732-8435
- Publication type
Article