Moody's

Just Half of Oil And Gas Companies Have Cyber Insurance – Moody’s Survey

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In May 2021, a ransomware attack on the Colonial Pipeline slammed the brakes on fuel deliveries across the U.S. East Coast, exposing the alarming vulnerability of critical infrastructure and sparking chaos in its wake. The oil and gas industry, which is highly dependent on automation and digital control systems, has since made cybersecurity a top … Read more

Major Debt Issuers Relatively Indifferent to Cyber Insurance Premium Hikes: Moody’s

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Moody’s, the credit and risk rating company, surveyed 1,700 people from debt issuers representing $80 trillion in outstanding debt across “71 global sectors.” “Despite the higher cost of cyber insurance, only 3% of issuers said they planned to buy less cyber coverage in 2023 than in 2022. The vast majority (82%) plan to purchase about … Read more

Cyber Insurance Market Penetration for Several Sectors: Moody’s Report

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“Some of the cybersecurity investment increase is also going toward standalone cyber insurance; 65% of public sector organizations carry specialized cyber coverage, as do 57% of financial services companies. No industry is below 46% in this category.” Source: Moody’s Report: Cybersecurity Investment Up, But Preparedness Remains Inconsistent – CPO Magazine

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