Why have cyber insurance premiums become so expensive? Can policyholders actually work with insurers to reduce their premiums? ... and cyber risk?
What do you do when you're staring at a cyber security questionnaire and wondering if you should spend all that time documenting your cyber exposures?
On this episode of the IoT: The Internet of Threats podcast, we met with Davis Hake, Co-Founder of Resilience, a San Francisco-based cyber risk company that's reexamining the way today's middle- to large- market enterprises manage cyber risk.
Check out the discussion on this latest episode of IoT: The Internet of Threats podcast.
In this episode, Eric and Davis discuss:
- How ransomware and software supply chain attacks have driven up the cost of cybersecurity insurance
- How insurers look at cyber risk and the drivers they have to encourage policyholders to improve their cybersecurity
- Whether documenting a company's cybersecurity control environment could pose a legal risk and potential liability
- The cost-versus-benefit temptation that companies sometimes face when presented with the high costs of cybersecurity improvements
- Regulation's role as a catalyst in bringing new controls online to confront new and emerging cybersecurity threats
Cyber Regulation in the Role of Catalyst
How did Twitter's July 2022 data breach and other events like it change the conversation around cyber resiliency? How do these events affect a company's responsibility to its customers?
What role has regulation played in effecting change in our nation's collective cybersecurity ecosystem?
On this episode of the IoT: The Internet of Threats podcast, Davis Hake explores regulation in the role of catalyst as we collectively confront new and emerging cybersecurity threats.
The (Pain of the) Cyber Insurance Questionnaire
Can assessing and documenting a company's cyber risk and controls open that company up to legal liability?
Should that be a company's primary concern, or even a concern at all when they work with an insurer to implement cyber improvements?
Listen in to our latest episode of the IoT: The Internet of Threats podcast, and hear Davis Hake, Co-Founder of Resilience, explain the environment that cyber insurers encounter when they ask companies to discuss their cybersecurity weaknesses and concerns during the insurance underwriting process.
Davis Hake co-founded Resilience in 2016 and currently serves as the cyber insurer's VP of product marketing and business development. He is also an Adjunct Professor on cyber risk management at the University of California Berkeley and a Term Member on the Council of Foreign Relations. Prior to co-founding Resilience, Davis served as the Director of Federal IT Security for the National Security Council and was the Chief of Staff for the Deputy Under Secretary for Cyber Security in the US Department of Homeland Security.
All episodes of Finite State’s “The Internet of Threats” podcast can be heard on Spotify, Apple Podcasts, and Google Podcasts.
Listen to this episode in its entirety below!