March 3, 2015
If we are to proactively defend our cybersecurity, we must move away from historical algorithm audit and analysis to real-time pattern recognition audit and analysis.
Given the Anthem data breach, which could rank among the largest identity theft breaches ever, and the 100-bank, $1 billion cyber heist, it’s clear we’re off to a bad start in 2015 when it comes to cybersecurity.
In fact, Inga Beale, the CEO of British insurance company Lloyd’s, estimates that cyber attacks will cost businesses as much as $400 billion a year, including the damage itself and subsequent disruption to the normal course of business. Beale also noted that the firms best prepared for cyberattacks buy insurance — and 90 percent of cyberinsurance is purchased by U.S. firms, leaving other companies around the world exposed.