Randall & Hurley, Inc.
Loren D. Stark Company
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|Cyber Insurance for 401(k) Plans Rises in Cost and Demand|
Fred Barstein, via RPA Convergence
Aug. 19, 2021
"[C]overage is now harder to get, and it costs more, largely due to the higher volume of attacks that resulted in higher loss ratios for insurers.... [U]nderwriting is [now] done on an individual basis -- and applicants need to show that they have good cybersecurity practices. That includes having multifactor authentication, data backups in a secondary location that are updated regularly and having the ability to put all critical systems back online within 10 days of an attack[.]"
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