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Another state of cyber insurance update. One has to consider how many companies have cyber insurance, that is a difficult number to quantify. We do no that 99% of all organisations are SMEs. That generally can’t afford cyber insurance, or do not see the benefit.
For those with cyber insurance outcomes right of bang, incident response are better than those that do not. However, the number of firms with cyber insurance is likely miniscul vs. those that don’t.
One waits to see how the insurance industry is going to react to U.S and EU cyber regulation and how boards are going to respond to increase legal and compliance risk. The risk transfer market has some interesting times ahead.
Ted Dziekanowski Rachel V. Rose, JD, MBA Bob Dix
#cybersecurity #cyberriskmanagement #cyberinsurance #directorsandofficers
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