Within the insurance sector, software as a service (SaaS) offerings are thriving as insurers and brokers are presented with an array of tools and capabilities offering ease of business. However, SaaS could prove to be a double-edged sword, for reliance on connectivity opens the door to security concerns such as system breaches, leaked data and possible legal ramifications.
Stacy Scott, Managing Director in the Cyber Risk practice of Kroll, a division of Duff & Phelps, was quoted in Business Insurance highlighting the importance for organizations to maintain a cyber security posture in their adoption of SaaS and insure that security is managed in an appropriate and reasonable way.
The full article is available to Business Insurance subscribers here.
