Privacy Beats Ransomware as Top Insurance Concern

The report examines 2024 privacy and cyber insurance dynamics, noting insurers’ growing focus on privacy claims (including pixel-tracking suits), the long-tail costs compared with rapid ransomware losses, and increased regulatory scrutiny that can place CISOs in the spotlight. It advises organizations to map and minimize PII, navigate complex U.S. state and international privacy laws (including GDPR), ensure their disclosed policies and controls match reality, and use insurer-provided readiness exercises—illustrated by a 2022 case where misrepresenting MFA led to policy cancellation and a denied claim.