As North Korean cyberattacks wreak havoc, insurers move to safeguard industry
Proposed exception for state-backed attacks will run into difficulties due to complexity of attribution, experts say
The insurance marketplace Lloyd’s of London recently announced that its insurers must create exceptions for devastating, state-backed cyberattacks, a category that includes the illicit operations of North Korea hacking syndicates.
According to Lloyd’s notice announcing the move, nation-state cyberattacks pose a “systemic risk” to the insurance market due to their sheer cost, and insurance and cyber experts have welcomed the move to fortify the fledgling cyber insurance marketplace.
But some researchers voiced concerns to NK Pro that the complexities of attribution could still leave firms hit by North Korean cyberattacks on the hook
- 01State media review: North Korea to hold major political meeting to wrap up year
- 02From QR codes to the blockchain: Inside North Korea’s digital payment plans
- 03Kim Jong Un reviews old satellite imagery despite North Korea’s new eyes in sky
- 04Eyes above: How a new ROK satellite will help monitor North Korea’s every move
- 05Timeline: From North Korea’s satellite launch to scrapping 2018 military deal
- 06North Korea’s post-reform elections looked a lot like those that came before
- 07State media review: North Korea faults ‘puppets’ for collapse of military deal
- 08In orbit: Everything we know about North Korea’s new spy satellite so far