Forest Global Training Partners

Cyber Risks · Cisco Talos

An in-depth look at cyber insurance: We sat down with risk expert, Cisco's Leslie Lamb

Summary: Cisco's Leslie Lamb, director of global risk and resiliency management, says cyber insurance dates back to the Y2K buildup, when companies worried computers would fail on Jan. 1, 2000, and that the market has grown exponentially over the past five years as ransomware and high-profile incidents spread. She describes policies that now include business interruption and physical damage coverage, monetary and time-bound deductibles such as 24- or 48-hour waiting periods, and a buying process Cisco starts 120 days before a policy expires with a roadshow for insurers.

Why it matters: Lamb notes that recent studies suggest holding a cyber insurance policy could actually make a company more attractive to attackers, and that many policies carry requirements an organization must meet before coverage applies - terms a security leader should read before an incident, not after.

Read the original at Cisco Talos ↗

Topics
Malware
Related