Episode 3: In Case of an Emergency, Break Glass

Cybersecurity threats have been growing year on year, with 2022 seeing ransomware attacks increase by 87% against industrial organizations. If successful, these breaches can come at a high cost; ransomware extortion totaled $456.8 million in 2022, after a high of $765.6 million in 2021. But is cyber insurance the answer? Unlike other forms of insurance, cyber insurance language is not standardized, and this can lead to significant variations in policy coverage. Certain offenses, like cyber warfare, are often excluded from coverage, while individual insurers may disagree on what constitutes an approved “loss event.” Yet is it worse to be left without any protection at all? This episode will discuss: The real stakes in cybersecurity right now What comprises a robust cyber insurance policy? How the market has changed in 2023