Cyber insurance is badly needed by energy companies

Cyber Insurance Coverage

Many believe that these utility companies are a “time bomb” for a digital attack. According to a recent publication by Willis, a reinsurance broker, energy companies do not have cyber insurance against any type of digital attack, but that the threat level has currently reached that of a “time bomb” that could end up costing the industry billions of dollars if the right cybercriminal does come along. The reinsurer used its annual review of the insurance market of the energy sector to underscore this vulnerability. Within the annual review, Willis…

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