INSURANCE INDUSTRY CYBERCRIME TASK FORCE

For the past ten years, businesses of all sizes and in every sector have been purchasing cyber insurance. As a result of this growth, the cyber insurance industry is now engaged in thousands of cybercrime incidents each year. Consequently, the industry is uniquely positioned to provide valuable insight about cybersecurity threats.

NetDiligence sponsored the Insurance Industry Cybercrime Task Force (IICTF) in 2018 to help the company’s cyber insurance partners share their valuable underwriting and claims experience with law enforcement, legislators, and business leaders in support of national efforts to stop cybercrime.

The mission of the IICTF is to:

  • Collect, organize and report on cybercrime activity, from the vantage point of the cyber risk insurance industry
  • Publish a biannual briefing on cybercrime trends as observed from inside the insurance arena
  • Present findings to a range of audiences including law enforcement, legislators and business leaders via conferences and industry meetings
  • Advocate for cybersecurity best practices

The IICTF will also attempt to supply information that is missing from many cybercrime studies, including:

  • Leading causes/threats of breaches
  • Safeguards that are often missing or defeated
  • How victimized organizations are targeted
  • Why victimized organizations are targeted
  • The financial severity of various cybercrimes

PROJECT DETAIL

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  • Date: 29 May 2019
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