I was having some security conversations last week and cybersecurity insurance came up as a topic. This isn’t overly unusual as it’s a pretty popular topic, but someone said something that really got me thinking.
What if the insurance covered the customers instead of the companies?
Now I understand that many cybersecurity insurance policies can cover some amount of customer damage and loss, but fundamentally the coverage is for the company that is attacked, customers who have data stolen will maybe get a year of free credit monitoring or some other token service. That’s all well and good, but I couldn’t help myself from thinking about this problem from another angle. Let’s think about insurance in the context of shoplifting. For this thought exercise we’re going to use a real store in our example, which won’t be exactly correct, but the point is to think about the problem, not get all the minor details correct.
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