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We’re approaching the time of the year for predictions, so this is no exception. But, 2022 has been a difficult year not least for cybersecurity, if it were ever thus.
2022 has seen geological tensions spill over into a hybrid war for the first time, between Russia and Ukraine. We’ve seen government regulators develop cyber regulatory proposals, with U.S, EU and Australian regulators taking prominent positions on cyber regulation that will likely start in 2023. The cyber insurance industry has ‘matured’ in 2022, with a rise in premiums, reduced coverage and policy exclusions. The lack of skilled and experienced cyber resources has raised real concerns. We saw our first significant legal cases focusing on cyber in 2022, with CHS healthcare, Aerojet Rocketdyne, the Uber CSO case and the Twitter CSO testifying in a Judicial committee. 2022 bought no answers as to how cybersecurity can be realistically managed by small business, or how the DoD is going to oversight the international DIB under CMMC.
2023 should bring opportunities. Cyber regulation moves markets and there are proposals in the U.S and EU that may do that. Cyber attacks will continue as economies tighten and levels of fraud increase.
Ted Dziekanowski
#cybersecurity #cyberriskmanagement #cyberinsurance
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