Cyber Insurance: An Ineffective Way of Dealing with Hacks?

“In the long run, insurance, while it might mitigate the cost of a single catastrophic loss, is not an effective method of dealing with cyber breaches,” said cybersecurity expert Alan Calder, the founder of international cybersecurity firm IT Governance Ltd. 
He explained that while insurance may seem a good short-term means of reducing the cost of data breaches, coverage does not make you any safer; it merely provides a cushion for when you inevitably fall.
A much more sensible approach to addressing cybersecurity risks involves improving cybersecurity throughout the organization in order to prevent breaches in the first place, rather than spending on increasingly costly premiums.
This is why more and more organizations throughout the US are implementing the internationally recognized cybersecurity standard ISO 27001. ISO 27001 sets out the requirements of an information security management system (ISMS), an enterprise-wide approach to information security that addresses people, processes, and technology.
With their unique combination of standards, books, toolkits, software, training, and online consultancy, IT Governance’s packages provide US organizations with all they need to implement the Standard and ensure their cybersecurity.
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