Cyber Security Insurance

The Department of Homeland Security is a great starting point for cyber security insurance research and offers some information on the federal round table discussions revolving around the topic.

Before investing in cyber security insurance do some research, gather information from the major security resources identified on this site, and understand the types of data you have within your organization (HIPAA, CJIS, FERC, NRC).
Lifesaver
Cyber security insurance is designed to mitigate losses from a variety of cyber incidents, including data breaches, network damage, and cyber extortion. The Department of Commerce has described cyber security insurance as an "effective, market-driven way of increasing cyber security" because it may help reduce the number of successful cyber attacks by promoting widespread adoption of preventative measures; encouraging the implementation of best practices by basing premiums on an insured's level of self-protection; and limiting the level of losses that companies face following a cyber attack. Many companies nevertheless forego cyber security insurance altogether. They cite its perceived high cost, a lack of awareness about what it covers, and uncertainty that they'll suffer a cyber attack as just some reasons for their decision.