It is increasingly becoming more common that MSPs are contractually requiring their clients to carry cyber insurance. In turn some clients may mistakenly push back against this requirement.
Having dealt with way too many breaches on both ends of the equation, I can confidently say that there are three very practical reasons for the MSP client to obtain adequate cyber insurance.
02:24 Immediate Financial Hardship
04:46 Not Every Loss is a Lawsuit
06:24 Exhaustion of E&O Insurance
For a free PDF copy of Damage Control: Cyber Insurance & Compliance, visit: https://www.thebrunsgroup.com/book2
For a physical copy Damage Control: Cyber Insurance & Compliance, visit: https://www.amazon.com/Damage-Control-Cyber-Insurance-Compliance/dp/057866416X
Disclaimer: I’m not giving official insurance or legal advice. This video is for general information purposes only. Talk to an attorney licensed in your jurisdiction familiar with your own circumstances. Seriously! Trust nothing you see on the internet!