Cybersecurity Programs Benefit from a Risk-Based Mindset
Earlier in the year, we released a series of blog posts about understanding the relationship between cybersecurity and insurance. Covid-19 was the best biological example for the necessity to prepare for low probability but high impact events. Our blog series used this parallel to draw attention to the digital world and its malicious (and also sometimes careless) actors.
Digital cybersecurity events once considered unlikely and infrequent, are now on the top of everyone’s mind. These types of cyber risk scenarios are the ones worth being prepared for and have been increasingly part of the executive conversation. Given the recent Microsoft breach, it’s become increasingly evident that no amount of defense will protect and defend an organization. You need to be prepared to mitigate and manage cyber risk financially.
Insurance is becoming an increasingly important part of the equation because it speaks to the risks one can transfer outside of technological controls. However, if you are ready to purchase insurance for cyber, the landscape is much different going into 2021.
