Annmarie Giblin Discusses Shift in Attitude by Companies Regarding Cyberinsurance and Increased Government Focus on Cybersecurity
Hinshaw partner Annmarie Giblin discussed with Law360 Insurance Authority how increased government attention to cybersecurity has helped affirm its importance and helped increase informational awareness regarding cyberinsurance.
Giblin said that the increase in available information regarding cyberinsurance has helped to shift companies' views on cybersecurity and cyberinsurance, affirming that it is a necessary protection. "That's been a really positive development, especially from my view when I help companies get their cybersecurity programs in place, because it helps to inform the risks and how you can help mitigate it," she added.
Giblin also stated that government entities have both helped spread information on cybersecurity and begun developing cybersecurity regulatory schemes, which reflect a recognition of the importance of cybersecurity. "Having the government step up and say, we recognize this as an issue and we're prepared to put something in place just like we did for terrorism coverage, that's a really great development," Giblin said. "It'll help increase capacity and coverage and keep this market for those coverages live."
"5 Cyberinsurance Developments To Be Thankful For" was published by Law360 Insurance Authority on November 22, 2022