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One example - startups that are looking to sign large enterprise contracts are often prevented from doing so because they don't carry a sufficient level of erro
by akharris 9y ago
One example - startups that are looking to sign large enterprise contracts are often prevented from doing so because they don't carry a sufficient level of errors and commissions (E&O) insurance to satisfy customer requirements.
Getting that level of coverage can be difficult because the few people on the insurance side really understand how to price software/security risk, and because the size of contract isn't meaningful to the seller of the policy, though it is critical to the startup in question.
- FLUX-YOU 9y agoThat seems straight-forward to do (although difficult finding great developers to assess this stuff): - Development process (Agile, Scrum, Waterfall, Panic, etc.) - Architecture - Testing processes - Pentesting - Credentials of all of the developers - Credentials of the managers - Even the presence of physical security There's already "cybersecurity" insurance and surely someone from that industry could join and tell you how to price security features and processes: https://www.dhs.gov/cybersecurity-insurance https://www.dhs.gov/cybersecurity-insurance I can't really speak against it not being worth it for the insurance company though. How do you build a cheap but high coverage insurance product for startups that have limited cash?