Cyber Insurance and the danger of ‘silent cyber’
ISF Senior Analysts Mark Ward and Emma Bickerstaffe in conversation with Simon Meech, Cyber Practice Lead at insurance broker BMS Group. The incessant onslaught of ransomware attacks presents challenges for the insurance industry and their clients.
With policies being run at a loss by some insurers, premiums will increasingly serve as a barometer for the ransomware risk. What is ‘silent cyber’ and what do Members need to know to navigate the cyber insurance market?
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Understanding the ransomware menace
The average cost to recover from a ransomware attack is $1.85 million. No sector is immune. Ransomware attacks hit police forces, healthcare provider...