The sudden expansion of remote work arrangements in the wake of the COVID-19 crisis has created a buffet of opportunities for would-be cyber criminals. And the newly reconfigured, decentralized satellite workplaces in people’s homes look to be with us for some time. In addition to protecting themselves from the network vulnerabilities created by these off-site offices, businesses need to undertake a thorough review of their cyber insurance policies to ensure that if a malicious actor causes them harm, they are protected on the fiscal front.
Cyberattacks have surged in recent months because of the much greater use of personal devices, exponential expansions of access points, and inability to centrally control data. But many cyber insurance policies do not completely protect the policy holder from intrusions such as data breach, network shutdown, and civil or regulatory actions.