Parent cited Australia as an example of increased consequences following the incident, pointing to increased regulatory scrutiny, greater class action risk, and costs associated with remediation, customer notification and business disruption. “As the threat landscape continues to deepen, the impact is being felt not only in the frequency, severity and velocity of cyber incidents, but also in the increasing explosive scope and persistence of attacks. In response, organizations are increasingly adopting cyber risk quantification to support both control investments and insurance purchasing decisions, ensuring that programs are calibrated not only for expected losses, but also for increasingly volatile and interconnected tail-risk scenarios.”
Willis considers cyber coverage adequate for most breaches and first-party losses & more related News Here
