Call us now:
The December 2023 UK Parliamentary report on Cybersecurity defines the challenges the UK faces, in securing its Critical National Infrastructure (CNI). The Chair of the Joint Committee on the National Security Strategy (JCNSS) Dame Margaret Becket made clear that “The UK has the dubious distinction of being one of the world’s most cyber-attacked nations. It is clear to the Committee that the Government’s investment in and response to this threat are not equally world-beating, leaving us exposed to catastrophic costs and destabilising political interference. In the likely event of a massive, catastrophic ransomware attack, the failure to rise to meet this challenge will rightly be seen as an inexcusable strategic failure.
Russian state sponsored cyber teams and criminal have always been at ‘war’, or making money from UK industry. If Russia declares a cyber war on the UK, then Russian hackers such as LockBit, ALPHV and Vice Society have free reign to target the UK. One wonders what this means for UK industry and cyber insurers, given the enclosed report on UK cybersecurity.
With some insurers exclusion clauses including state sponsored hacks and war exclusions. What does the future looks like for firms with a significant ‘cyber-gap’? At a time when many nations are regulating the cybersecurity of their CNI providers, to improve cybersecurity maturity, or risk civil or criminal penalties.
Ted Dziekanowski Brian D. McCarthy
#cybersecurity #cyberriskmanagement #cyberattack
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