Cyber insurance: Can you afford not to have it?
As the state of Georgia marks its first anniversary as a cyber insurance holder, officials there say they have no plans to be without it again.
That’s because in the event of a security breach, the insurance provider connects agency clients to vendors who can immediately begin remediation — including digital forensics, legal, public relations and notification services.
“Because we already have the relationship with the insurance provider, effectively, they look like subcontractors to us,” Georgia CTO Steve Nichols said. “It’s already been competed. We can just reach out and get things quickly.”
With those worries largely taken care of, the information security teams at state agencies can focus on important tasks – mainly, keeping cybersecurity up-to-date.
Having a list of vendors agencies can call for incident response and forensics gives Chief Information Security Officer Stanton Gatewood a “warm and fuzzy feeling,” he said. And even though we have insurance, he said, we don’t want to use it if we don’t have to, so it has the…
