Jon Bateman, senior fellow in the cyber policy initiative of the Technology and International Affairs Program at the Carnegie Endowment for International Peace: “’If we see a true cyber catastrophe on the order of a hundred billion or more losses or insured losses in one country, the government is going to step in, regardless of whether there’s any scheme in place in advance,’ he said. ‘We’ve seen this with Hurricane Katrina, with wildfires. If there’s a huge catastrophe that devastates a locality or a broad sector of society, the Congress or another legislature will just need to come in and have some kind of emergency assistance. COVID is another example of that.’”
Source: From Pandemic to Cyber War, Clear Policy Wording Is Key for Insurers