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What Cyber Insurance Industry Learned from 2017 Hacks

The NotPetya, WannaCry and Equifax hacks of last year were evidence that the U.S. insurance industry has been ill-prepared to handle a large cyber attack and needs to up its game.

However, as a consequence of the attacks in 2017, the industry and its customers may be at a tipping point in favor of better cyber readiness and coverage, according to panelists at the 2018 AIR Casualty-Cyber Seminar, held February 27 in New York City.

They also called for public officials to move beyond circa-1970s thinking about cyber and collaborate more with the private sector to mitigate the risks.

The cyber experts said that a lack of experience and data are behind what they see as the industry’s underpreparedness in a constantly evolving cyber risk environment.

Read more at Insurance Journal

The Government Technology & Services Coalition's Homeland Security Today (HSToday) is the premier news and information resource for the homeland security community, dedicated to elevating the discussions and insights that can support a safe and secure nation. A non-profit magazine and media platform, HSToday provides readers with the whole story, placing facts and comments in context to inform debate and drive realistic solutions to some of the nation’s most vexing security challenges.

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