Latest Industry Trends in Cyber Security and Cyber Insurance
Pascal Millaire, CyberCube CEO, and cyber security experts explain why cyber insurance is one of the most important new insurance lines to emerge in decades.
According to Lloyd's, cybercrime already costs organizations an estimated $400 billion every year, and this number is growing every year. Not surprisingly, cyber risk has emerged as one of the top three risks that concern Chief Risk Officers and enterprise insurance buyers, and over 70 insurance carriers have responded by entering the market with cyber insurance policies.
While insurance policies may help business recover some costs after-the-fact, they do not reduce cyber risks. Such risks are constantly evolving, along with technology, security vulnerabilities, and the motivations of cybercriminals.