It's the beginning of October and we begin a new month of "awareness's" here in the U.S. It's a big awareness month too, rivaled only by May and September by some listings. It's National Breast Cancer Awareness Month (pink shoelaces and wristbands on NFL players is an easy reminder) and it's National Liver Cancer Awareness Month. Serious causes without a doubt. In fact, most of the awareness movements are health related such as Eczema Awareness Month (October), Digestive Tract Paralysis Month (August), Borderline Personality Disorder Awareness Month (May), STD Awareness Month (April), and Dysautonomia Awareness Month (October), which I had to look up. Now I'm more aware.
A few on the list for this month are not health related, but also of great importance: National Fire Prevention Month, National Bullying Prevention Month, Polish American Heritage Month, and the more shadowy, Cyber Security Awareness Month. Life insurance has an awareness month. It's in September. However, cyber insurance does not yet and we may be waiting quite some time before it does.
>Cybersecurity has risen to become one of the defining issues of today. Rehashing some example cyber incidents that explain why is not necessary. Suffice it to say that this issue is a daily hot topic among popular media, industry watchdogs, business leaders, and governments, others not excluded. Despite this, awareness and the decision to purchase cyber insurance among businesses is lagging and not because it doesn't have its month yet. At present the product itself is unrefined and complicated by the gaps in fully grasping cyber risks and how to properly underwrite them. However, businesses, particularly small businesses which can be devastated by the hefty costs associated with a cyber incident, can benefit from the coverage cyber insurance policies can provide. The Department of Homeland Security, a rightful spearhead on cybersecurity, has even weighed in on the benefits of cyber insurance as part of overall cyber security planning.
