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An interesting read. The cyber insurance market has been having its ups and owns recently. Seen as an area of growth by the insurance industry, the rise in threats, poor cyber practices and COVID 19 have all lead to a rise in insured losses against a fall in premium income. (https://lnkd.in/dZ_j-RE)
I am not an expert on US politics, but colleagues tell me that Democratic led governments focus more on regulation than their Republican counterparts. It will come as no surprise therefore that the Biden Presidency is likely to preside over an increase in regulation, compliance and enforcement actions. The likely consequence being an increase in legal action and fines. It maybe worth dusting off the D&O and cyber insurance policies to see what is and is not covered (Regulatory breaches and fines are usually not covered). And for those not familiar with the False Claims Act (FCA), reviewing it and its implications on the delivery of Federal Contracts. As this article points out especially those involved in health care or defense contracting.
#cyberrisk #insurance #cyberinsurance #parava #europe #supplychain #cybersecurity #procurement #security #cmmccoe #legalcompliance #legal
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