Prevent, Pay or Insure
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Prevent, Pay or Insure?
The road to cyber resilience
Days before MGM’s computer systems were taken down in a cyberattack, fellow casino operator Caesars paid a $15 million ransom to attackers who infiltrated its systems.
MGM chose not to pay and dealt with different costs because of it – did the two casino giants wind up paying similar amounts down the line? And what role does cybersecurity insurance play in these scenarios?
In this episode of Threat Talks, host Lieuwe Jan Koning and special guest David Hake (co-founder of Resilience, professor of Cyber Risk Management at UC Berkeley and advisor at Venable LLP) discuss these cyberattacks on MGM and Caesars, exploring how organizations can better prepare for and respond to ransomware incidents.
Explore the Hack’s route in detail
Find a complete overview of the attacks featured in Prevent, Pay or Insure:
- MGM Resorts Ransomware Attack
- Conti Ransomware Attack on Costarican Government
- Dutch Law Enforcement Data Outleak
Your cybersecurity experts
Lieuwe Jan Koning
Co-Founder and CTO
ON2IT
Davis Hake
Senior Director of Cybersecurity Services
Venable LLP
Episode details
It’s not enough to safeguard organizations against increasingly sophisticated threats.
In this Threat Talk, host Lieuwe Jan Koning is joined by special guest David Hake (co-founder of Resilience, professor of Cyber Risk Management at UC Berkeley and advisor at Venable LLP). Together, they delve into the cyberattacks on MGM and Caesars, exploring how organizations can better prepare for and respond to ransomware incidents.
How come cybersecurity insurance is on the rise and how exactly does one insure their cybersecurity? Hake sheds light on how cybersecurity insurance works, what’s covered and why it makes as much sense to insure your cybersecurity as it does to insure your personnel, facilities and business revenue.
Luca Cipriano dials in to the conversation to shed some more light on what happened with the MGM hack, as well as the Conti ransomware attack and the Dutch law enforcement data breach – all examples where ransomware attacks took place and cybersecurity insurance could’ve played a part.
Curious how we answer the question: prevent, pay or insure?
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