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When considering adding a cyberinsurance policy, organizations, both public and private, must weigh the pros and cons of having insurance to cover against harm caused by a cybersecurity incident. Having cyberinsurance can help ensure compliance with these requirements. Can companies live without cyberinsurance?
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Even with ransomware costing billions of dollars in losses and cyberinsurance claims, organizations are still impacted beyond the checkbook. Email phishing, brute force, and even employees leaving with a host of USB sticks, organizations face countless and often unreported cyberattacks.
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As an advisory CISO and part of Cisco’s strategy group, an essential part of my role is talking to CISOs from every kind of organization. From these conversations, it is clear cyber liability insurance is steadily rising to the top of the agenda, due to the sheer amount and scale of cyber-attacks hitting firms.
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