Insurance Challenges Ahead As Cyber Perils Shift

For years now, cyber crimes have mostly been viewed through the prism of financial harm — essentially money and identities stolen. True, some cyber crimes over the years have also been calculated to invade privacy, taunt or embarrass (e.g., sexting, trolling, cyber stalking, cyber bullying, etc.) rather than just steal money or business secrets. But even in such circumstances, rarely did it feel like life or brick and mortar property were on the line. That perception is changing with news that Stuxnet was used to cause an explosion overseas and that multiple organizations (including hospitals) have had their data and property controlled by hackers to extort ransom payments.