Risk & Reward: Navigating Cyber Insurance in 2023 - ERP Spain.com - España y América Latina

Cybersecurity threats have been growing year on year, with 2022 seeing ransomware attacks increase by 87% against industrial organizations, according to a Dragos report. These breaches can come at a high cost if successful; ransomware extortion totalled $456.8 million in 2022, after a high of $765.6 million in 2021. But is cyber insurance the answer? Unlike other forms of insurance, cyber insurance language is not standardized and this can lead to significant variations in policy coverage. Certain offenses, like cyber warfare, are often excluded from coverage, while individual insurers may disagree on what constitutes an approved “loss event.” Yet is it worse to be left without any protection at all? In the latest installment of the BrightTALK Original series CISO Insights, industry experts will look at how to navigate the question of cyber insurance in 2023. Tune in to hear more about: — The real stakes of cyber security right now — What comprises a robust cyber insurance policy — How the market has changed in 2023 — And much more