The Expert Podcast

• In this episode, we delve into the crucial topic of cyber risk and protection for companies of all sizes.

• Regardless of your company's size or revenue, cyber risk and protection are paramount in today's landscape.

• 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.