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To understand the relationship between cybersecurity and insurance, we need to build a bridge to support the relationship. We will begin with the insurance side of the connection.

Why you need one, what to look for, and how to get started

In this next part of the blog series on the connection between cybersecurity and insurance, we dive into the preparing for the uncertainties of cyber risk.

The whole thing can happen in less than a day. At one company, it was two hours from initial compromise to domain compromise of hundreds of machines.

In this second part of the blog series on the connection between cybersecurity and insurance, we dive into the role insurance plays when thinking about potential cyber-attacks.  

This blog series bridges the connection between cybersecurity and insurance, providing an overview of how the two can work together to more effectively reduce risk exposure.

In our previous episode of Risk Journeys with Lisa Young,  Axio’s VP of Cyber Risk Engineering, we discussed her approach to cybersecurity mental models and the CEO’s role. In our final episode, we dive deep into cyber risk quantification and Lisa’s outlook on information security in 2021. 

The 2017 NotPetya attack that crippled computer systems and supply chain operations created a watershed moment for the insurance industry, when certain insurers cited the sparsely used “act of war” exclusion to refuse coverage for losses suffered from that event. Currently, millions of dollars of claims are awaiting the outcome of that dispute.

In our previous episode of Risk Journeys with Lisa Young,  Axio’s VP of Cyber Risk Engineering, we discussed Lisa’s background in cybersecurity and ended the conversation by discussing how she transitioned to the world of  risk management. We continue the conversation with part 2 just where we left off, on Lisa’s approach to cybersecurity mental models…

Cybersecurity Capability Maturity Model (C2M2) Background 

The Cybersecurity Capability Maturity Model (C2M2) contains a set of common cybersecurity practices that can be used to evaluate, prioritize, and improve cybersecurity capabilities. As a maturity model, C2M2 includes practices that range from foundational ones that are considered basic cybersecurity activities to those that are more advanced in terms of either technical sophistication or consistency and repeatability. This enables use of C2M2 to understand the current state of a cybersecurity program and track growth over time.