"Hotel Industry Takes a Closer Look at Cyber Security Insurance," Hotel Business
In the May 21, 2014 issue of Hotel Business, Mitzi Hill is quoted in the article, “Hotel Industry Takes a Closer Look at Cyber Security Insurance.” The article discusses the recent headlines involving mass data breaches and how the hotel industry can easily be impacted by hackers. Because cyber security insurance is a relatively new product, buyers must be careful about what they buy. Hill says, “There isn’t a lot of predictability in what your premium dollar buys you because there isn’t enough claims data for the insurers to have an actuarial business that supports the predictability.” As a proactive measure, she suggests that companies apply forethought to what a good security system looks like to help mitigate problems and make it easier and less expensive to obtain insurance. Hill also suggests that the industry will likely see more litigation from consumers regarding loss of personal data, whether it’s through theft or negligence. For the full article published by Hotel Business, please click here.