In 2024, the average cyber attack cost businesses $4.88 million, and most companies did not even know they had been breached for six months.

In this solo episode of The Policy Playbook, Misty Carson breaks down the seven biggest cyber threats hitting businesses right now and exposes a hard truth.

Most leaders think “We have cyber insurance” means “We are protected.” It does not.

Cyber policies are manuscript contracts, every carrier writes their own rules, and the coverage gaps are often hiding in the fine print. By the end of this episode, you will know where your program is strong, where it is exposed, and exactly what to ask your broker before your next renewal.

In this episode, Misty covers

• The 7 major cyber threats you cannot ignore
  • Ransomware
  • Social engineering and AI powered phishing
  • Supply chain and third party vendor attacks
  • Bricking of hardware
  • Internet of Things and device vulnerabilities
  • Business email compromise and funds transfer fraud
  • Nation state attacks and cyber warfare
• Why having a cyber policy and being protected are two very different realities
• How waiting periods, sub limits, and exclusions quietly gut your protection
• The difference between
  • Social engineering vs computer fraud
  • Property damage vs cyber damage
  • Cybercrime vs cyberwar exclusions
• The real cost of an attack
  • Ransom payments
  • Forensic IT and emergency response
  • Business income loss and extra expense
  • Notification, credit monitoring, and legal defense
• Where most policies break down
  • Tiny social engineering sub limits
  • No bricking coverage for destroyed hardware
  • No dependent business income for vendor failures
  • IoT devices not clearly addressed
  • Silent cyber and vague war exclusion language

You will walk away with

• A clear understanding of how each threat shows up in the real world
• The specific coverage terms you need to look for in your own policy
• The 7 questions to ask your broker before you renew
• Simple verification procedures to put in place now so your claim is not denied later
• A practical way to run a tabletop cyber scenario with your leadership team

If you have ever thought “We have cyber, so we are fine,” this is the episode that will change how you look at your coverage

Links:

🔗 Subscribe → The Policy Playbook

💌 Join the newsletter → Play of the Week

🤝 Connect → LinkedIn

💻 Website → The Playbook Consulting Group

Support the show