26 Mar 2018 The New Era of Cyber Insurance
Consider a prolonged power outage over a large metropolitan area, or a cyber attack targeting a nuclear power plant. These are real attacks, not hypothetical ones, that affected people’s lives, and cost owners and operators both monetary and reputational damages. A key problem with modernization of industrial control systems for critical infrastructure is that increased network connectivity is essential modernization and digitization, but undisciplined connectivity introduces cyber vulnerabilities that can result in catastrophe.
Insuring for cyber risks to industrial networks with a wide- reaching impacts on the physical world is a complex undertaking for insurers. This is why, increasingly, such policies require due diligence and the deployment of recognized best practices for industrial cybersecurity as a pre-requisite for reduced rates, or cyber insurance coverage at all. Realizing that a cyberattack on ICS can have consequences much more serious than those for data theft, new insurance kinds of policies and requirements are emerging – and Waterfall Unidirectional Security Gateways are playing an essential role robust control-system cyber insurance.
For more details as to developments in industrial cyber insurance, click here to download Waterfall’s eBook on the topic.
Andrew holds B.Sc. of Applied Mathematics and M.Sc. of Computer Science degrees from the University of Calgary, as well as ISP, ITCP, and CISSP accreditations.