Security ME Magazine - Security Predictions for 2022: Part Two

“Cybersecurity insurance in jeopardy - As if stakeholders did not have enough to contend with, their fallback risk position may simply vanish. Insurance providers may look at the bottom line and decide that — given the monumental costs of recovery and the failure of modern threat postures to allow for the evolving capabilities of bad actors — there is no sound business case for their cybersecurity products. Some insurers have already drastically increased premiums while others refuse to ensure high-risk clients, and some have abandoned the cyber-insurance market altogether. Without more organisations taking out policies, or better cyber-hygiene across the board, it is difficult to envisage a future for cybersecurity insurance.”

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