Threat intelligence is important, but cyber is not a ‘Right of Bang’ issue.

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Threat intelligence is important, but cyber is not a ‘Right of Bang’ issue. Worrying about cyber threats and relying on cyber insurance as a risk transfer solution is not economic for either the insurer or insured. As we have seen recently in the UK, and have seen with attacks in the US.

Cyber is not a risk that can be economically insured today, it’s to complex, insurers and the insured understand little about cyber risk mitigation or proactive management of risk and are not incentivised to manage cybersecurity. Until this happens we will continue to address risk transfer through insurance, we will not incentivise the insured to manage cyber risk and ultimately one outcome will be that cyber continues as a risk to national security.

The EU has regulated cyber risk management for CNI providers not just because of the threat, but to enforce boards demonstrate proactive management of cyber risk.

As we wrote in 2022 and 2023.

Is cyber an insurable risk – Bringing stability to insurance oversight and assurance
https://lnkd.in/dGFVVjCi

Left of Bang(1) – Cybersecurity risk management compliance ahead of incident response
https://lnkd.in/eT3qqnYa

Left of Bang(2) – Cybersecurity regulation enforces cybersecurity risk management into the board room
https://lnkd.in/eM4guVCb

@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan

Veritas GRC

#cybersecurity #cyberriskmanagement #cyberregulation

https://lnkd.in/gN5Pm5Pu

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