Insuring the Future: Navigating Cyber Risks in 2023

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  • In this episode, we delve into the crucial topic of cyber risk and protection for companies of all sizes.
Key Insight:
  • Regardless of your company's size or revenue, cyber risk and protection are paramount in today's landscape.
Data Points:
  • TechCrunch predicts 2023 will be a pivotal year for cybersecurity.
  • An emphasis on cyber insurance is growing due to the supply chain and geopolitical events.
  • Public companies face a significant share price drop, averaging 3.5% within 14 days of a breach becoming public.
  • Over 50% of damages incurred by businesses from breaches are long-tail costs.
  • 31% of expenses are accrued in the second year post-breach, with 24% extending beyond two years.
  • Cyber breaches trigger a domino effect of expenses that extend beyond the immediate event, emphasizing the need for comprehensive cyber protection strategies.
  • As you strategize your cyber protection profile, whether through defense mechanisms, insurance, or a blend of both, it's essential to factor in the long-term costs and implications of cyber breaches.
If you have questions or want to delve deeper into today's topics, visit at for additional resources. Until next time, stay insured and stay informed!
Insuring the Future: Navigating Cyber Risks in 2023
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