Cyber insurance is a growing market, however, the industry lacks data on a potentially catastrophic cyber event, making it difficult to model and price. There is also no consensus on what could cause a catastrophic cyber event. A systemic cyber event is likely to result from an accident or unanticipated event rather than a planned attack, further complicating modelling. Increased transparency by the cyber community could aid in modelling this potential risk.
United States Charges Developer of LockBit Ransomware Group
Rostislav Panev, a 51-year-old dual Russian-Israeli national, has been extradited to the U.S. for his role as a developer in the LockBit ransomware group. Arrested
