The Digital Age has reached a crossroads. We have the technological means of exchanging a vast and specific array of zeroes and ones (the binary language of the digital world). Yet, hardly a day goes by without news of someone getting hacked. In fact, the loss history attributed to cyber-attacks is about $500 Billion per year. What is the insurance industry supposed to do with those numbers?
For nearly 100 years the electric grid protected itself from catastrophic malicious attack by a combination of perimeter security, intelligent security procedures and the industry’s own, hardened electromechanical infrastructure. Then came the Digital Age. Skilled software coders and programmers now work to enhance functionality within and communication between turbines, boilers, generators, high voltage transmission lines …