Hedge funds turn to cyber liability insurance to mitigate risk

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White Plains, NY-based Assured SKCG, the risk management and insurance advisor to alternative investment firms, has seen an increased interest in cyber liability insurance by hedge funds. These firms are responding to investor concerns, a recent SEC Risk Alert on cybersecurity preparedness, and an escalation in cyber-attacks aimed at hedge funds and financial firms.

Within the past 12 months, 4 of the top 10 largest breaches took place and 66% of the breaches took months or more to discover.

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