Not enough insurance professionals understand the risks or the products to distinguish themselves in this niche. This is going to be a growing industry segment in the commercial insurance world, and people better start reading up.
Anyone has the opportunity to make themselves a key member of a team if they can learn these products.
The article talks about the insurance industry leading in this area. What a joke. Nationwide was just fined. They won’t do it until the NAIC or states force them. They writer is well spoken, and does not understand this topic.
Insurance Professionals that underwrite cyber security policies need to understand that the attack vector of malware is on board the hardware and chips. This means that simple measures such as antivirus and having a corporate firewall are not enough to protect corporate networks, especially when WiFi chips on many devices can be remotely compromised by a drive by WiFi attack.
The solution I believe is that insureds will need to be subjected to a third party IT audit so that risks can be adequately determined before underwriting policies.
I have head of certain malwares that are now attacking at the BIOS-level, which means there is literally no way of removing them once they are there. That is legitimately scary stuff for information security, and protection of vital operations. Reference the hackers that got control of the power grid/water treatment plants’ systems a year or two ago across the US. Fortunately, they were not malevolent, but IT security must be a top priority for any company and municipality going forward.
We are bringing optical fiber that cannot be physically tapped or eavesdropped on to. How can we work with the insurance companies to validate this breakthrough technology?
Interesting article.
Not enough insurance professionals understand the risks or the products to distinguish themselves in this niche. This is going to be a growing industry segment in the commercial insurance world, and people better start reading up.
Anyone has the opportunity to make themselves a key member of a team if they can learn these products.
The article talks about the insurance industry leading in this area. What a joke. Nationwide was just fined. They won’t do it until the NAIC or states force them. They writer is well spoken, and does not understand this topic.
Insurance Professionals that underwrite cyber security policies need to understand that the attack vector of malware is on board the hardware and chips. This means that simple measures such as antivirus and having a corporate firewall are not enough to protect corporate networks, especially when WiFi chips on many devices can be remotely compromised by a drive by WiFi attack.
The solution I believe is that insureds will need to be subjected to a third party IT audit so that risks can be adequately determined before underwriting policies.
Interesting commentary.
I have head of certain malwares that are now attacking at the BIOS-level, which means there is literally no way of removing them once they are there. That is legitimately scary stuff for information security, and protection of vital operations. Reference the hackers that got control of the power grid/water treatment plants’ systems a year or two ago across the US. Fortunately, they were not malevolent, but IT security must be a top priority for any company and municipality going forward.
We are bringing optical fiber that cannot be physically tapped or eavesdropped on to. How can we work with the insurance companies to validate this breakthrough technology?