Few other threats have seen the level of incline as cyberattacks. Of course, for businesses and firms, the one saving grace has generally been cyber insurance, providing them with a level of financial security from a usually invisible enemy.
However, cybersecurity experts reading the tea leaves warn that in the near future, cyber insurance won't be the padding it once was.
As all U.S. verticals from infrastructure to legal brace themselves for a uptick of cyberattacks from Russia, some cyber insurers are jumping ship, unable to accommodate the financial losses. In turn, premiums are shooting up and coverage is becoming more selective.
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Isha Marathe
New York-based law/tech business reporter, covering all things AI, IP, cybersecurity, data privacy, and more. Avid fan of the nitty gritty of company disclosures.
