> Insurers say some attackers may even check whether potential victims have policies that would make them more likely to pay out.
> Dickson said one technology client had previously bought 130 million pounds of professional indemnity and cyber cover for 250,000 pounds. Now the client could only get 55 million pounds of cover and the price was 500,000 pounds.
As just relying on insurance payments is not sustainable, I hope we soon get to the point where companies that do not properly invest in cyber security get wiped out and ones that take matters seriously survive and increase their market share and profit margins. The same holes will be exploited by nationstate and identity fraud hackers, in this case it is just the consumer who ends up paying the bill.
> Dickson said one technology client had previously bought 130 million pounds of professional indemnity and cyber cover for 250,000 pounds. Now the client could only get 55 million pounds of cover and the price was 500,000 pounds.
As just relying on insurance payments is not sustainable, I hope we soon get to the point where companies that do not properly invest in cyber security get wiped out and ones that take matters seriously survive and increase their market share and profit margins. The same holes will be exploited by nationstate and identity fraud hackers, in this case it is just the consumer who ends up paying the bill.