Understanding Cyber Insurance: Why Arbitration May Make Sense for your Policy

In recent years, cyber insurance is facing a hard market. As cyber-attacks and data breaches have grown dramatically in frequency and size, carriers have been forced to narrow their offerings. These limitations put existing and potential cyber insurance customers in difficult positions. As policyholders negotiate policy language, arbitration clauses should be included in this discussion. Arbitration is a form of alternative dispute resolution that provides a streamlined and more cost-effective solution to conflicts that would otherwise result in litigation.