What M&S’s £100 million cyber claim could mean for the future of cyber insurance – Expert comment
Following reports that M&S could receive a cyber insurance payout worth up to £100 million, Adam Casey, Director of Cybersecurity and CISO at Qodea, warns that high-value claims like this will likely lead to increased scrutiny from insurers and rising premiums – especially as non-payment of ransoms becomes more common, pushing more of the financial burden onto breach recovery and business interruption.
Following reports that M&S could receive a cyber insurance payout worth up to £100 million, Adam Casey, Director of Cybersecurity and CISO at Qodea, warns that high-value claims like this will likely lead to increased scrutiny from insurers and rising premiums – especially as non-payment of ransoms becomes more common, pushing more of the financial burden onto breach recovery and business interruption.
