Cyber insurance premiums could act as a significant driver towards developing standards for the Internet of Things. which could save costs and effort. Cyber insurance is still a growing business and looks likely to adopt data security standards. Therefore, enterprises' premiums could go up or down depending on whether their insurer recognises their security technologies. The report also suggests that insurers should consider offering cyber protection services in addition to traditional insurance. He pointed to cellular standards as a model. Having standards in place helps streamline the development of the industry, making information and data available to anyone.
Cyber insurance premiums could act as a significant driver towards developing standards for the Internet of Things. which could save costs and effort. Cyber insurance is still a growing business and looks likely to adopt data security standards. Therefore, enterprises' premiums could go up or down depending on whether their insurer recognises their security technologies. The report also suggests that insurers should consider offering cyber protection services in addition to traditional insurance. Having standards in place helps streamline the development of the industry, making information and data available to anyone.