In today’s evolving landscape, the cyber insurance industry is witnessing a significant transformation. Where insurance decisions were once primarily the domain of CFOs, there’s now a collaborative influence with CISOs and IT directors taking an active role. This shift in decision-making dynamics was highlighted by Christopher Seusing of Wood Smith Henning & Berman LLP and Peter Hedberg of Corvus. Their insights reveal how the integration of cybersecurity experts into insurance decision processes is becoming crucial in navigating current challenges.
Economic uncertainties have prompted organizations to reconsider their expenditures, often curtailing new investments in cyber defense. However, Seusing emphasizes that basic cyber hygiene remains one of the most valuable investments. He notes that “increased cyber hygiene is going to mean fewer claims,” suggesting a direct correlation between hygiene practices and improved market conditions. This approach not only enhances safety but could potentially lead to a more profitable landscape for businesses.
Hedberg, from Corvus, underscores the importance of data management and analytics as critical investments. He argues that data, often perceived as the new oil, can become an overlooked liability if not properly managed. By consciously evaluating their data assets, businesses can mitigate potential risks and breaches. This proactive approach allows security teams to identify hidden threats and better protect their organizations.
In a conversation at the RSAC Conference 2025, Seusing and Hedberg explored several pressing issues. They discussed the complexities of third-party and supply chain breaches, the increasing liability risks faced by CISOs, and the exclusions present in cyber insurance policies. These topics are pivotal as they navigate the intricate landscape of cybersecurity and insurance.
Seusing, who leads the cybersecurity and data privacy team at his firm, brings over 15 years of experience in data breach response and regulatory compliance. Meanwhile, Hedberg, a seasoned expert in cyberinsurance, recently joined Corvus to spearhead efforts in modernizing commercial insurance and empowering brokers in managing cyber risks. Together, their expertise highlights the evolving strategies needed to address today’s cyber challenges effectively.