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Samit Shah, insurance solutions manager, BitSight, which helps companies manage third and fourth party risk and underwrite cyber policies, offered a similar sentiment though an awareness of the threat of cyber will help with this goal.

“With regards to cyber insurance, third-party cybersecurity risk awareness is on my Christmas list this year. While there is still tremendous value in focusing on your portfolio clients and their security posture, recent breaches that resulted from insecure vendors underscore the interconnected nature of data sharing and the necessity to gain a better understanding of who your insureds do business with.

“Establishing and implementing a strategy around not just individual companies, but also those they do business which will strengthen the cyber insurance industry as a whole,” he said.


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