What Is the Role of Insurance in Mitigating the Financial Losses from a Successful State-Sponsored Attack?

Insurance can play a vital role in mitigating the financial losses from a successful state-sponsored attack by providing a financial backstop for affected individuals and institutions. Cyber insurance policies can cover a range of losses, including stolen funds, business interruption, and reputational damage.

However, the cyber insurance market is still evolving, and policies may have significant exclusions and limitations. It is important for organizations to carefully review their policies and understand the extent of their coverage.

Insurance should be seen as one component of a comprehensive risk management strategy, not a substitute for robust security measures.