Insurance Journal Viewpoint by Aspen's Josh Ladeau: What Insurance Industry Should Acknowledge About Small Business Cyber
In response to two cybersecurity bills targeting small business, an opinion piece written by Josh Ladeau, Aspen Insurance Head of Cyber, was featured in Insurance Journal's "Viewpoint" column.
Both the Small Business Development Center Cyber Training Act and its companion bill have been making news, and Josh provided some provocative thoughts on this subject.
Specifically, the insurance industry has flocked to small business not solely because of its substantial pool of currently uninsured risks, but because it is perceived as an area less exposed to aggregated, large loss. Josh explains these organizations are viewed in the insurance world as “safe” but these bills and industry statistics would suggest otherwise.
Moreover, although small businesses almost universally lack the security awareness, resources and preparedness for a cyber-attack, they are, nevertheless, benefitting from an insurance industry rabid for growth, according to Josh.
Simply put, the threat of cyber-attacks among small businesses is growing, but the insurance industry has yet to acknowledge it. Read Josh's Insurance Journal Viewpoint here.