The Digester

The Cyber Monitoring Centre says the UK government loan guarantee for Jaguar Land Rover could encourage ad hoc state rescues and weaken firms' incentives to invest in cyber resilience.

The government offered a £1.5 billion loan guarantee to Jaguar Land Rover after a cyberattack.
The Cyber Monitoring Centre estimates the JLR attack cost up to £1.9 billion to the UK economy.
CMC chair Ciaran Martin warned the case-specific bailout could create ad hoc precedents without clear intervention criteria.
Pool Re said the cyber insurance protection gap could be about 90 percent, leaving most large losses uninsured.
The CMC plans post-incident business polling, a cloud risk white paper, and a US cyber monitoring centre to improve damage measurement.

UK watchdog warns JLR cyber bailout risks dangerous precedent

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