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The Importance of Insurance and Cyber Security

In the 21st century, cybersecurity has become an issue that rivals physical war in some extreme circumstances. Organizations like Facebook, Amazon, and Google have so much of the population’s information, and any potential security breach is disastrous. Facebook, in particular, has publicly failed users when it comes to cybersecurity practices and willfully providing sensitive information to partners. There are websites which demonstrate the amount of hacking across the planet in real-time and show a small glimpse into how cybersecurity is not secure as most would like to believe. The country that can perfect quantum computing first will be able to circumvent any cybersecurity in place at this time. The cyber security insurance is more important now than ever.

Quantum Computing and Cyber Security

As it stands, China is currently outpacing the rest of the world when it comes to the development of quantum computing. It is estimated that a quantum computer will be capable of bypassing any form of existing cybersecurity in a matter of seconds. Existing cybersecurity insurance providers need to implement clauses that include this type of breach. The entire cybersecurity insurance marketplace needs to evaluate how existing practices will most likely become obsolete over the next few years. While it is undoubtedly a long time from now, once quantum computers can be purchased by the public, cybersecurity may develop into something completely new.