Cyber insurance has become a vital component of the risk management framework, providing a hedge against financial losses stemming from cyberattacks. However, these policies have become more expensive and difficult to obtain due to an explosion of new digital threats. One of the many ways underwriters are attempting to balance their risk is by making multifactor authentication (MFA) a mandatory requirement for coverage.
Digital transformation has enabled the oil and gas industry to boost productivity, increase efficiency and reduce costs. Unfortunately, it has also increased the possibility of cyberattacks with the potential for creating global chaos.
