A few years ago I was at a director's office who had just signed a cyber insurance policy. He was visibly relieved. He said: "Now we are finally covered." He showed me a four-centimetre-thick binder, dark brown leather, with "Cyber Insurance Policy" embossed in gold on the spine. It looked impressive. It felt as if he had done something important.
I asked him whether he had read the policy.
"My lawyer read it."
"And what did he say about it?"
"He said it's a good policy."
"Did he specifically discuss the exclusions?"