Cyber risk is a lot like the common cold. There is no vaccine or cure because viruses — real and technological — keep mutating.
No one is immune, and once infected, usually the best you can do is take steps to limit the pain and duration of an event, and get back on your feet as quickly as possible.
The difficulty in resisting highly adaptable computer bugs is one of the biggest problems facing insurers looking to write cyber coverage for a wide range of property, liability, and business interruption risks. Demand is likely to rise exponentially over the next few years as more organizations become aware of their exposure, and as our economy is increasingly connected online, providing new entry points for hackers to exploit. The question is whether the insurance industry will be able to fully capitalize on this opportunity as insurers struggle to assess an ever evolving risk.
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