Two industries came out of cybersecurity: the people working to protect data, and those who are hacking. At one time hackers were few and nonthreatening, now cybercrime is organized and complex.
Cyber insurance is a new coverage that more companies are finding the need to have, except some say insurance companies are still struggling with how to create policies for breaches.
There is a desperate need for cybersecurity professionals. Massachusetts is beginning to take the lead and has been building a cluster of cybersecurity businesses and college programs.
Companies experience breaches all the time, however it was the Target breach which proved just how damaging a large breach could be if not prepared. The breach was a pivotal moment for the cybersecurity industry and became the prime example of what can happen.