and probably sooner rather than later. What does that do to your Security budget?
https://www.techspot.com/news/97118-cyberattacks-could-soon-become-impossible-insure.html
Cyberattacks could soon become impossible to insure
Attacks against critical technologies and cyber-infrastructures are increasingly becoming the most dangerous threat against civilization. That, at least, is the opinion of some insurance figureheads, which seemingly don't want to pay victims the enormous amounts of money needed to cover the costs of attacks.
The costs of cyberattacks will soon become so high that insurance companies will not be able to do business with the affected parties anymore. According to Mario Greco, chief executive of Zurich Insurance Group, cyber-risks will soon take the place of pandemics, climate change and other natural disasters as systemic risks which are essentially "uninsurable."
For the second year in a row, 2022 is ending with more than $100 billion-worth of claims for natural catastrophes, but according to Greco, cyber is the true risk to watch. "What if someone takes control of vital parts of our infrastructure, the consequences of that?" Greco stated in an interview with the Financial Times.
(Related) Another budget consideration…
2023 New Year’s Resolution: Don’t Get “Whacked” By A State AG for Cybersecurity Compliance
Joe Lazzarotti of Jackson Lewis writes:
It usually happens after a reported data breach. The organization experiencing the breach sends notifications to affected individuals, as well as federal and or state agencies where appropriate and perhaps other parties. Not long thereafter, the organization receives an inquiry from one or more government agencies. These inquiries typically seek more information about the breach and its incident response process, but also the nature and extent of the organization’s data security policies and procedures in place prior to the breach. Deficiencies in any of these areas could support getting “whacked”!
On December 16, Pennsylvania’s Attorney General and soon to be Governor, Josh Shapiro, announced a settlement with a company that experienced a data incident in April 2021 that exposed 30,295 Pennsylvania consumers’ payment card information. Following an investigation jointly conducted by Mr. Shapiro’s office and its counterpart in New York, it was determined that the company “failed to properly employ reasonable data security measures in protecting consumers’ payment card information.”
Read more at Workplace Privacy, Data Management & Security Report.
Elvis, the Beatles, Frank Sinatra – who would you like to see next? Perhaps even performing in your living room...
ABBA’s successful avatar show in London offers a glimpse at a daring new direction for live music
Before the launch of “ABBA Voyage,” the London concert performed by 3D digital avatars of the iconic Swedish band, member Björn Ulvaeus said they hoped audiences would “feel that they’ve gone through something that they’ve never seen before.”
Following its May 27 debut, much of the reaction from domestic and international critics, fans and industry professionals has been rapturous.
Nothing unexpected, but worth repeating.
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