When your business, or a business you rely on, is the victim of a cyberattack, there is always a price that you pay simply for being the victim. There are emergency IT costs, data recovery costs, identity theft protection, investigations, lawsuits, and sometime even fines by the government. Most businesses seek out insurance to protect themselves from being completely wiped out by events like this. It’s the reason why cyber insurance policies are so important (and why they’re getting so expensive).
Or at least that’s what we thought before. Before WannaCry. Before NotPetya. Before the types of acts that we had come to attribute to common criminals became the kinds of things nation states started doing instead of (or in preparation for) going to war.
Nation State-sponsored cyber war, even when it isn’t actually part of an actual war, are oftentimes considered to be different than regular cybercrime – particularly by insurance companies. So if you’re collateral damage for some country’s most recent step into cyber war, are you protected?
For more information, resources, and a transcript of this episode, check out the original post.