EP151 Cyber Insurance in the Cloud Era: Balancing Protection, Data and Risks

Guest:

• Monica Shokrai, Head Of Business Risk and Insurance For Google Cloud 

Topics:

• Could you give us the 30 second run down of what cyber insurance is and isn't?

• Can you tie that to clouds? How does the cloud change it? Is it the case that now I don't need insurance for some of the "old school" cyber risks?

• What challenges are insurers facing with assessing cloud risks? On this show I struggle to find CISOs who "get" cloud, are there insurers and underwriters who get it?

• We recently heard about an insurer reducing coverage for incidents caused by old CVEs! What's your take on this? Effective incentive structure to push orgs towards patching operational excellence or someone finding yet another way not to pay out? Is insurance the magic tool for improving security?

• Doesn't cyber insurance have a difficult reputation with clients? “Will they even pay?” “Will it be enough?” “Is this a cyberwar exception?” type stuff?

• How do we balance our motives between selling more cloud and providing effective risk underwriting data to insurers?

• How soon do you think we will have actuarial data from many clients re: real risks in the cloud? What about the fact that risks change all the time unlike say many “non cyber” risks?

Resources:

• Video (LinkedIn, YouTube)

• Google Cloud Risk Protection program

• “Cyber Insurance Policy”  by Josephine Wolff 

• InsureSec