Big companies aren’t as well protected as they think

Experts on enterprise cyber security discuss the Department of Commerce's guidance for keeping data and critical IT infrastructure safe.

Cyber incidents cause hiccups in business-to-business contracts all the time and the public is never going to hear about any of those incidents, Joseph DeMarco, a partner at DeVore & DeMarco said during a panel at Metrotech’s Pfizer Auditorium Thursday.

The incidents will never go public because neither party wants them to, but parties to contracts want protection from cyber incidents, so, as an attorney, he’s seeing more firms require their counterparties to have cyber insurance as a condition of making deals. So, the government may not need to require cyber insurance, as more and more companies require it of each other, DeMarco said.

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