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Jun 22, 2021

There was a large-scale internet outage recently which caused major sites to be inaccessible to most users all over the world. While the cause of the outage was simply human error, it made the world ask about site stability. More importantly, it made people wonder what would happen if the outage was the result of a cybersecurity breach, and what would happen if their data  - social, medical, professional, government - fell into the wrong hands.

In this episode, we discuss cybersecurity and the questions a company should be asking an underwriter if they want cyber insurance. We share related stories of cybersecurity breaches, especially those involving ransomware. We describe what companies can do to protect themselves from an attack as well as what cyber insurance really does after an attack has happened. We also explain the key differences between white hat and black hat hackers, and how an organization should handle the audit that comes after a security breach.

"Everybody has a technology component to their business and that opens us up to risk." - Adam Moore

This week on Breaking Barriers:

  • Cybersecurity, what it is, and why it's important
  • What cyber insurance really is for and what they do in the event of an attack
  • The questions you should ask your underwriter when choosing cyber insurance
  • Why data is a bank's number one commodity
  • Recent cybersecurity attacks in the US and why it can affect both big and small companies
  • The difference between white hat and black hat hackers
  • How best to handle a major audit due to a potential breach

Resources Mentioned:

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