The Black Swan, The Vicious Cycle, and the Crisis in Cyber Insurance

The disruption caused by the Colonial Pipeline ransomware attack thrust the ransomware epidemic into the national spotlight. Policymakers, executives and consumers may be scrambling to understand how something like this could happen, but those in cybersecurity knew it was just a matter of time. 2021 has been marked by an unprecedented wave of increasingly sophisticated and widespread cyber-attacks across every industry. Ransomware is just one type we’ve seen increase and become more sophisticated.

Companies Mentioned: Aon PLC, AXA, BitSight, CNA Financial, Coalition, Colonial Pipeline, Microsoft, SolarWinds, Sophos, U.S. Cybersecurity and Infrastructure Security Agency, U.S. Federal Bureau of Investigation