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The present is always the perfect time for insurance professionals and insureds to reexamine the ever-evolving cybersecurity landscape.

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As the insurance and risk management industry continues to make strides in understanding and mitigating cyber threats, the coverage opportunities are enormous. (Photo: WhataWin/Adobe Stock) As the insurance and risk management industry continues to make strides in understanding and mitigating cyber threats, the coverage opportunities are enormous. (Photo: WhataWin/Adobe Stock)

When Russia invaded Ukraine in February 2022, the West braced for a slew of state-sponsored cyberattacks, with critical infrastructure seen as high risk.

So far, those fears have not come to pass. Some data suggests the war has in fact caused a lull in ransomware activity, as Ukrainian and Russian hackers take up arms instead. Whether this will remain the case is unknown, but what’s clear is that attackers are becoming increasingly sophisticated, pursuing new targets and taking a rapidly mounting toll on the global economy.

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