The NetDiligence Cyber Risk Summit, which was held September 30-October 2 in Philadelphia, featured panels focused on the latest developments and challenges in cyber risk. Speakers included insurance, legal, and technology experts from a wide variety of organizations in the cyber risk industry.
Participants discussed the evolution of ransomware attacks, business email compromises, and other types of cybersecurity incidents, and the exponential increase in litigation arising from privacy and data breaches.
The use of artificial intelligence by threat actors emerged as a top concern. Panel speakers also emphasized the importance of cyber resilience, pushing for a shift from reactive to proactive cybersecurity strategies, including better preparation for incidents.
Another highlight of the summit was the emphasis on collaboration across industries as insurers, legal experts, and technology providers discussed comprehensive strategies for addressing a full spectrum of cyber risks. Panelists also explored how organizations could use the latest technologies and risk management practices to prepare for future cyber threats.
A significant portion of the summit focused on the findings from the 2024 Cyber Claims Study, which provided insights into real-world incidents and trends in cyber insurance claims, helping companies better understand the financial and operational risks associated with various cyber threats. Lindsay Nickle, Vice Chair of Constangy’s Cybersecurity & Data Privacy practice group, recently took part in a webinar to discuss the findings. "One of the remarkable things about taking the time to review this type of claims study is to watch the trends, and the types of incidents, and the costs associated with response, and the way we've seen this landscape change," Lindsay said. The webinar is available at Cyber Claims Study 2024 Report.
Overall, the summit provided a valuable forum for professionals to exchange insights on cybersecurity best practices, emerging risks, and innovative approaches to safeguarding digital assets.
