Rising premiums, more restricted cyber insurance coverage poses big risk for companies

Cyber insurance is becoming as common to any business that collects customer information (which is basically everyone) as malpractice insurance is for the medical community.

The rise in cost is going to be extremely problematic because you'll have businesses that have a new risk determination to make - get the insurance or potentially face business-ending lawsuits if information is stolen.

Most likely it will accelerate the rise of cybersecurity as a specialty for lawyers so they can come up with iron clad 'click throughs' to protect the business at the expense of private date (in other words .. you can't sue us because you agreed to hold us blameless if something happens to your data).

I remember when all the security you needed was a.45 call. hand gun.