What are the considerations for cyber insurance in the context of critical infrastructure sectors?

Critical infrastructure sectors face unique risks due to their importance in supporting the economy and public safety. These risks include potential cyberattacks aimed at disrupting essential services, financial losses from such attacks, regulatory fines for non-compliance, reputational damage, and even physical damage to infrastructure.

Cyber insurance can help address these challenges by providing financial protection in case of a cyber incident. It can cover various costs such as recovery expenses, legal fees, notifying affected parties, and potentially even compensation for business interruption. Additionally, cyber insurance often offers access to expert incident response teams that can help mitigate the impact of an attack and facilitate a quicker recovery.

Overall, cyber insurance can be a valuable risk management tool for critical infrastructure sectors to help them recover from cyber incidents and continue providing essential services to the public.