Intellectual property insurance still under valued despite rise of cyber attacks

Article, Insurance PostApril 2018

Insurance

There still appears to be a significant disconnect between the understanding of cyber risks and the response to them at board level. In Insurance Post, RGL Forensics partner Ben Hobby explains that as a result companies might have already suffered, or are about to suffer, a cyber-attack resulting in a loss of intellectual property.

As appeared in Insurance Post, 6 April 2018.

By: Ben Hobby

Knowledge is power. This oft-repeated quote is often attributed to Sir Francis Bacon and, in a commercial sense, he was right, particularly when that knowledge is used to innovate and to create new technologies.

However, a lot has changed since Bacon’s time, given that much of this knowledge isn’t stored on paper, but is now stored electronically.

Thus far, the cyber insurance market has been focussed on personal data. Understandably so, given the costs that have been incurred in data breaches in the US and the fines that can be levied under the upcoming General Data Protection Regulation.

Nevertheless, personal data, while valuable to criminals, is not where the real value sits for companies – it is the value of patents, know-how and technical acumen, its intellectual property.

 

Read the rest of the article at Insurance Post.

Looking for more?

Get in touch with our London Office

08:03 pm

Local time