💰Prevent, Pay or Insure? 💰

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.

Dialing in to the conversation, Threat Intel Specialist Luca Cipriano offers a preview of our Deep Dives into three critical threats relevant to these attacks, providing valuable technical insights.

The by now age-old dilemma remains: should companies pay ransom or refuse? But beyond that, how can they focus on prevention? And where does cybersecurity insurance fit into the equation?

If businesses insure their personnel, facilities, and revenue, isn’t it time to also insure their cybersecurity?

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