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A great read if you want to understand what’s keeping the insurance industry awake at night with cyber. Ransomware is on the rise and the gap between underwriting and claims is rising forcing prices increases to cover the gap.
In my view with little hope of the trends changing without a radical rethink by the insurance industry on underwriting policy. There is a need to adopt cyber standards such as NIST or ISO as the basis to underwrite. A precedence is already being set, the US DoD is rolling out a programme to all its suppliers requiring them to adopt a global cyber standard or they will not be awarded contracts.
#cyberrisk #insurance #cyberinsurance #parava #europe #supplychain #cybersecurity #procurement #security #legalcompliance #cyber #defence #defencenews #supplychainsecurity
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