Oct 19, 2020
Stanton Gatewood & Jeffrey Smith: Is Cyber Insurance Really a Thing?
Play • 59 min


62% of businesses experienced phishing and social engineering attacks in 2018.


68% of business leaders feel their cybersecurity risks are increasing.


Only 5% of companies’ folders are properly protected, on average.


Data breaches exposed 4.1 billion records in the first half of 2019.


71% of breaches were financially motivated and 25% were motivated by espionage.  (Verizon)


According to a study from our friends at Adroit Market Research, global Cyber security insurance market size was $3.89 billion in 2017, expected to grow to $23.07 billion in 2025


What kind of preparation before applying for Cyber Insurance can produce the outcomes you need?


What are the underwriters looking for when they evaluate and calculate cyber insurance premiums?


What changes and technologies can an organization implement to lower those costs?


Just like personal life insurance, the preparations and choices you make before and during the underwriting process will lead to vastly different outcomes in the cost of your premiums.  


On another Very Special Episode of InSecurity, Matt Stephenson moderates a discussion between Stanton Gatewood, former CISO for the State of Georgia and previous skeptic on the notion of Cyber Insurance and Jeffrey Smith, Managing Partner at CyberRisk Underwriters, a company specializing in Cyber Insurance. This ain’t your normal cable news shoutfest, but rather an informed discussion on a misunderstood tool of data protection. Think you don’t need Cyber Insurance? Do you feel the same way when you get in your car or go to the doctor? See where we’re going here…?



About Stanton Gatewood



Stanton Gatewood is an experienced and successful cyber security professional and information technology leader, with more than 35 years of experience in the Federal, State and local government, higher education and public sector. He has been recognized over the years for his contributions to the State of Georgia and the University System of Georgia.


Additionally, Stan, enjoys helping his peers increase their Cyber Knowledge, Skills, Abilities + experience with his work in NASCIO.



About Jeffrey Smith



Jeffrey Smith founded Cyber Risk Underwriters to simplify the access to cyber insurance and cyber warranty products via a network of insurance agents, cyber security vendors and infosec investors. In this role, Jeffrey is building a business model to educate clients about the catastrophic nature of cyber security risks, generate alternative distribution channels for cyber insurance products, and custom program for unique customers.



About Matt Stephenson



Insecurity Podcast host Matt Stephenson (@packmatt73) leads the Broadcast Media team at BlackBerry, which puts him in front of crowds, cameras, and microphones all over the world. He is the regular host of the InSecurity podcast and video series at events around the globe.


I have spent the last 10 years in the world of Data Protection and Cybersecurity. Since 2016, I have been with Cylance (now BlackBerry) extolling the virtues of Artificial Intelligence and Machine Learning and how, when applied to network security, can wrong-foot the bad guys. Prior to the COVID shutdown, I was on the road over 100 days a year doing live malware demonstrations for audiences from San Diego to DC to London to Abu Dhabi to Singapore to Sydney. One of the funniest things I've ever been a part of was blowing up a live instance of NotPetya 6 hours after the news broke... in Washington DC... directly across the street from FBI HQ... as soon as we activated it a parade of police cars with sirens blaring roared past the building we were in. I'm pretty they weren't there for us, but you never know...


Every week on the InSecurity Podcast, I get to interview interesting people doing interesting things all over the world of cybersecurity and the extended world of hacking. Sometimes, that means hacking elections or the coffee supply chain... other times that means social manipulation or the sovereign wealth fund of a national economy.


InSecurity is about talking with the people who build, manage or wreck the systems that we have put in place to make the world go round...


Can’t get enough of Insecurity? You can find us at Spotify, Apple Podcasts and ThreatVector as well as GooglePlay, Gaana, Himalaya, I Heart Radio and wherever you get your podcasts!


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