After the Equifax breach, everyone learned that until there are actual repercussions for cyber attacks (like fines and people going to jail for negligence), if you can weather the storm, over the course of a year or two, there is effectively zero impact to your bottom line.
You can also see this in the Solarwinds stock price. Year over year, they are down a hair under 4 percent... After being directly responsible for one of the most impactful cyber incidents yet. Hell, if you invested in January, after most of the stuff blew over, you would be up nearly 20% on your investment.
There is even a perverse incentive to not do things and just get cyber insurance to cover you. Since these underwriters generally have no fucking clue what they are doing, you can actually make money on a cyber intrusion if you play your cards right. Only now that insurance companies have paid out the nose with ransomware incidents have they started to wise up. Having worked in the space, its absolutely bonkers what we accept as normal business practices with regards to cybersecurity.
You can also see this in the Solarwinds stock price. Year over year, they are down a hair under 4 percent... After being directly responsible for one of the most impactful cyber incidents yet. Hell, if you invested in January, after most of the stuff blew over, you would be up nearly 20% on your investment.
There is even a perverse incentive to not do things and just get cyber insurance to cover you. Since these underwriters generally have no fucking clue what they are doing, you can actually make money on a cyber intrusion if you play your cards right. Only now that insurance companies have paid out the nose with ransomware incidents have they started to wise up. Having worked in the space, its absolutely bonkers what we accept as normal business practices with regards to cybersecurity.