As if anyone needed a reminder about the cyber risks facing virtually every individual and every business, there has been a rash of recent data breaches – all very serious in nature. These risks – and the fact that they are trending up, not down – underscore the fact that smart cyber risk management is essential. As part of risk management for cyber security, it is critical that businesses figure out what their insurance needs are. This is easier said than done, because the cyber insurance market continues to change in many significant ways. The insurance marketplace has expanded greatly for dedicated cyber insurance policies for both “firstparty” risks (e.g., breach notification costs) and “thirdparty” risks (e.g., class action litigation defense and indemnity).