The UK's Cyber Monitoring Centre (CMC) has warned that the government's £1.5 billion bailout of Jaguar Land Rover following a cyberattack sets a dangerous precedent. CMC technical committee chair Ciaran Martin cautioned that intervening without clear criteria could encourage companies to rely on state support rather than investing in cyber resilience or insurance. The CMC estimates the JLR attack cost up to £1.9 billion, while attacks on M&S and Co-op combined for £355 million. A key concern is the cyber insurance 'protection gap,' estimated at 90%, meaning most large-scale cyber losses are uninsured. Martin called for a formal framework — potentially including mandatory insurance, tax incentives, or a government-backed safety net — rather than ad hoc responses. The CMC also announced plans to expand to the US, with live incident categorizations potentially available by 2027.
Sort: