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Ted Dziekanowski, when one reads Progress Software’s 10-Q filing, costs are net of expected insurance payments. The SEC has issued a subpoena against Progress to gather more information on the MOVEit vulnerability, and there are a range of class action, customer and regulatory lawsuits and investigations.
From December 2023 the insurance industry and its clients will be having different conversations about cyber and D&O insurance. As the SEC final rule kicks in. From October 2024 companies trading in or with the EU face a much bigger problem, EU NIS 2 and DORA are also transposed by EU member states. Effecting CNI providers and Financial Institutions. Creating identical issues for covered entities, and their insurers. The FUD debate may continue, but the realities of cybersecurity risk management and regulatory oversight are clearly visible.
Rachel V. Rose, JD, MBA Brian D. McCarthy Bob Dix
#cybersecurity #cyberriskmanagement #cyberregulation
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