Marks and Spencer reports a more than 55% drop in half-year profits following its cyber attack, and cyber insurers picked up £100million of the…

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Marks and Spencer reports a more than 55% drop in half-year profits following its cyber attack, and cyber insurers picked up £100million of the company’s losses. Profits for the half year were £3.4 million, down from £391 million for the same period in 2024.

While not good for M&S and its shareholders, one wonders how many of these types of incidents the insurance industry will want to carry, at the expense of boards demonstrating their management of cyber risk. As a recent industry post indicated, is cyber an economically insurable risk?

@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan

Veritas GRC

#cyberriskmanagement #cyberinsurance

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