rmstein@ieee.org
Date: Wed, 17 Jan 2018 14:56:41 +0800
http://www.bbc.com/news/business-42687937
"One of the biggest issues in cyber-insurance is how to price it
effectively and cover indirect as well as direct costs a company suffers
following a cyber-attack," says Nik Whitfield, chief executive of
Panaseer, a cyber risk assessor.
"He anticipates companies like his offering cyber risk assessment services
to insurers. Firms seeking insurance would be happy to be assessed in the
hope of securing lower premiums, he argues.
"Such a service would be the equivalent of a telematics box in your car
which tells the insurance company how well you're driving," says Mr
Whitfield.
How many business and institutional entities are ill-equipped and too poorly
funded to sponsor essential defensive operations to actively suppress brand
outrage incidents? What happens when the cyber-insurer recommended changes
(ala outsource to a vendor) fails to suppress an incident? What happens to
the insurer when incident swarm drains claim reserves? Filing cabinets and
paper might be due for a strong comeback in light of the Internet of
Mistakes.