Governance Risk and Compliance

Cyber Security Insurance

Force Majeure – Cyber Security Insurance

As we look back on the cyber attacks of the past year, one of the recurring themes was that there was no way the hacked companies could have expected or prevented the attacks that hit them. In legal parlance, the concept of reasonably unexpected and unstoppable events that disrupt a business and its contracts is called force majeure. With that position, many of the hacked companies, prior to being attacked, purchased cyber security insurance and then proceeded to cut investment in IT security.