Cyber incident insurance – UPDATED

This post was originally made on 24 August 2022

Update 6 September 2022

Here is an excellent background article from Jude Karabus on The Register looking at why Lloyds has decided not to pay out cyber incident insurance claims that can be attributed to nation-state actions.

Cyberinsurance would cost more without exclusions • The Register

Your takeaway from this is get your cyber security house in order – especially your ransomware resilient back-ups of everything – and do not rely on insurance to get you out of the hole of being collateral damage in a Russia Ukraine data wiping or ransomware operation.

Further Reading

Cyber security insurance – some advice – Updated – Smart Thinking Solutions

Original Post

I am often asked to give my opinion on Cyber Security Incident Insurance policies – it normally requires a phone to the broker to check what is really covered!

In future here is what it will not cover:

Lloyd’s to exclude nation-state attacks from cyber policies • The Register

Please Note:

I am on leave so the news this week is “in brief”. You can still contact me via the contact page and Octagon Technology.