Why cyber insurance won’t save you Shortly before coronavirus was first detected, PwC published its Global Crisis Survey 2019 which found that crisis preparedness was rapidly becoming a source of competitive advantage. In the same way that financial institutions were put to the test in 2008/2009, the travel and hospitality sectors are currently bearing the...
The issues in this article will be addressed in a keynote to be given to the British Computer Society (BCS – The UK Chartered Institute for IT) at its January 22nd legal specialist interest group seminar: The Gotchas to Look Out for With Incident Response and Cyber Insurance – Part Two of Three: Cyber security…
Big Issues, Cyber Insurance, Cyber Law, Regulation
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Head in the Sand 7: the rate of cyber insurance coverage is woefully low and some policies are inadequate, while many of the risk ratings on which many cyber insurance premiums are based are far too crude. While new threats will continue to be found, like blockchain poisoning, much of the focus in cybersecurity remains...
The Global Federation of Insurance Associations (GFIA) has now provided its feedback to the Organisation for Economic Cooperation and Development (OECD) on cyber issues and the cyber insurance project. The GFIA has suggested that the OECD Insurance and Private Pensions Committee (IPPC) should consider reviewing the broader cybersecurity landscape to determine how policy and regulation…