Spencer Fane attorney Shawn Tuma recently published an article in Security Magazine discussing an increasing risk of cyber attacks, and the need for cyber insurance.
Titled “With ransomware attacks increasing, cyber insurance now seen as a necessity, not a luxury,” the article details the need for strong cybersecurity, including cyber insurance, an incident plan, and implementing a strategy to mitigate risks.
“A cyberattack is becoming the one universal risk that can literally destroy overnight an otherwise healthy company,” Shawn explained in the article. “Even with COVID-19, it took days and weeks for the impact to be felt.” He went on to explain that, “[b]ecause a company cannot be completely secure, it must be resilient. Cyber insurance is critical in providing a company with the resources it needs to properly respond to and recover from an attack.”
To read the full article, please click here.