This Is No Time to Stand Pat - As cyber threats morph, companies need to reassess their readiness including their insurance protection

In the present environment, cyber risk management simply cannot stay static. Cyber risks continue to morph and vex organizations worldwide.  Recent incidents represent a cross section of nightmare scenarios for businesses, governments and others. They included a large insurance company’s $115 million patient breach settlement; an SEC breach investigation preceding a reported $350 million (downward) price adjustment for a corporate acquisition; an $81 million cybertheft from what was thought to be perhaps the safest banking network on the planet; the sudden shutdown of UK hospital networks; law firms losing control of privileged client files; theft of yet unreleased films and original cable programming; and the destruction of industrial facilities in Europe and Asia.