Insurers are grappling with the quantification of the damage to a business’s reputation that arises from a cyber attack, as this is not currently covered in cyber policies across the industry.
companies are struggling to quantify damage to a business 's reputation caused by a cyber attack , with panellists speaking at this year 's Airmic Conference . The damage from a cyber attack often causes drops in stock price , disputes with investors and extra costs to boards , said William Wright , head of privacy , cyber and investor at Paragon International Insurance Broker . Because none of these costs are picked up by standard cyber policies , insurers must investigate their payout through a metric that pinpoints where a business stands before and after an event , he added .