Colonial Pipeline is just one recent example. The rise of ransomware has organizations rapidly committing resources to protect IT networks in the event of a cyberattack.

While much of the focus has been on the interruption of computer systems, which affects all industries, there has been an increasing number of attacks targeting manufacturers and their underlying Operational Technology (OT) systems. The attack on Colonial Pipeline resulting in the pipeline being taken offline is just one recent example. While the Colonial ransomware incident did not directly affect its OT systems, they were forced to be taken offline out of an abundance of caution, disrupting gas supply all along the East coast. A cyber insurance policy with certain key amendments may be effective at responding to these types of attacks.

Watch: Cyber Insurance and Risk Transfer – A Market in Transition

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by Chris Keegan

Sr. Managing Director, Cyber & Technology

by Oren Wortman

Managing Director, Cyber & Technology