The systems we rely on to keep the lights on, heat our homes, make our medicines and move our goods are increasingly connecting to the Internet, and increasingly vulnerable to devastating cyber attacks in what a new report calls a looming “global crisis.”
In this episode of the podcast (#117), we go deep on one of the hottest sectors around: cyber insurance. In the first segment, we talk with Thomas Harvey of the firm RMS about the problem of “silent cyber” risk to insurers and how better modeling of cyber incidents is helping to address that threat. In part II, we invite Chip Block of the firm Evolver back into the studio to talk about the challenge that “converged” cyber physical systems pose to insurance carriers as they try to wrap their arms around their exposure to cyber risk. Editor’s note: as an experiment this week, we’re posting each interview as a separate download, to see if that makes it easier for listeners to jump to the content they’re most interested in. Use the comments section or Twitter (@securityledger) to let us know what you think or whether you prefer the single download!
In this industry perspective, Thomas Hofmann, the Vice President of Intelligence at the firm Flashpoint* warns that the effects of data breaches can often be felt months or years after the actual incident, as stolen data bubbles up in underground marketplaces. He has three pieces of advice for companies that want to develop an incident response plan that mitigates the damage of breaches in the short term and over the long term.