Well over a decade ago, I had the opportunity to visit a research center north of New York City that was jointly run by IBM and Symantec. I met with a computer scientist who would singlehandedly receive copies of the latest computer viruses, open up their code to see what made them tick, prepare countermeasures and ship the remedy back to affected clients. This process usually took several hours.
Today’s waves of cyberattacks may be coming on too fast for the best computer scientists to unravel fast enough to stop their spread across connected networks. If anything, the recent ransomware attacks that shook up many of the world’s IT systems highlights the need for insurers to work even harder — and smarter — to batten down their hatches.
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