Enterprises holding cyber insurance policies are undergoing more scrutiny in their claims as rates decline and insurers scramble to remain profitable.
The stakes are high for both sides. Insurance companies around the globe increasingly fear their business is overly dependent on large U.S. policyholders, which make up nearly two-thirds of their global market share. They worry that one large supply chain event or outage could escalate and ultimately wipe out the cyber insurance industry as a whole.
Pulled Health-ISAC quote:
Errol Weiss, chief security officer at the Health Information Sharing and Analysis Center, said, “Organizations are really looking at what do we need to do to make sure that we can keep our major systems running if major IT systems start going down for whatever reason —whether it’s a bad guy or a bad update.”
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