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Cybersecurity of small business is the 99% problem that no one seems to have found an answer to. The article says that cyber insurance is ‘not a comprehensive solution to all cybersecurity challenges’.
Cyber insurance is not a solution to nearly all cybersecurity challenges. That’s the problem, cyber regulation shifts cyber risk ‘Left of Bang’ onto the financial statements of covered entities. Requiring regulatory compliance ahead of a cyber incident. That create challenges for small business that cannot afford to meet the necessary compliance standards.
Cyber regulation benefit cyber insurers, it helps reduce the risk of cyber incidents and enables insurers to use a failure in regulatory compliance to reduce or reject claims.
Brian D. McCarthy Bob Dix Rachel V. Rose, JD, MBA
#paravasecuritysolutions #cybersecurity #cyberriskmanagement
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