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Ransomware attacks may not decreasing in frequency, but they are certainly increasing in sophistication. The Year on Year rise in ransomware seems to be continuing and we are definitely seeing the complexity of attacks increase as hackers target ever more increasing numbers of identified vulnerabilities.
The very real concern is Ransomware as a Service (RaaS) and its next iteration, using automation to target and deliver attacks driven by regenerative AI. The very real concern is what happens when regenerative AI moves beyond LLMs into full machine learning. Once a hack identifies a weakness in one system, it uses it to exploit the same weaknesses in real time, in others. When one hears that activity across JP Morgan’s technology assets creates 45 Billion transactions a day. One understands the challenges of protecting an organisation from cyber related incidents.
One wonders if we moving towards an inflection point, where cyber insurance will only deliver incident response, as remediation costs will be to high. Coverage limits are falling, exclusion clauses reduce cover, and the historic lack of corporate engagement in cyber increases the coverage gap. A gap that is being filled by regulators.
Ted Dziekanowski Brian D. McCarthy
Veritas GRC
#cybersecurity #cyberriskmanagement #cyberinsurance #cyberregulation
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