2023 Cyber Liability: Building Cyber Resilience in a Complex World

By now, most organizations have implemented mandatory annual cyber awareness training for their employees, covering topics such as phishing and social engineering attacks. While this education is thwarting cybercrime, it is only part of robust defense strategy. In looking back at the state of cyber in 2022 and highlighting important developments, we also look ahead at what is next in building cyber resilience that will require additional defensive measures and documentation. And as cyber threats escalate, insurers are taking corrective actions by increasing premium rates, adding restrictive language in their cyber insurance policies, and carefully underwriting risks.