Cyberattack winner–'hacker insurance'
The computer worm that clogged Internet traffic and shut down vulnerable corporate networks this weekend also provided another boost to the emerging market for hacker insurance, experts said on Monday. Hacker insurance, also known as “network risk insurance,” has been on the market for about three years, but is expected to explode from a $100 million sideshow into a $2.5 billion behemoth by 2005, according to insurance industry projections. This weekend’s Internet attack, which virtually cut off Internet access in South Korea and toppled other networks worldwide, underlined the impossibility of total computer security, said Counterpane Internet Security Chief Technology Officer Bruce Schneier. Full Story