Insured Losses

The insured losses due to the SolarWinds hack now total $90 million and climbing.

That’s according to BitSight and Kovrr’s joint analysis of the financial impact of the SolarWinds breach on the insurance industry.

The SolarWinds attack is a cyber catastrophe from a national security perspective, the companies said. However, insurers may have narrowly avoided a catastrophic financial incident to their businesses. That’s because the insured losses haven’t spiraled out of control.

The losses include incident response and forensic services for companies impacted by this incident and that have cyber insurance coverage.

While the number of SolarWinds victims may grow in the following months, BitSight and Kovrr don’t expect the direct insured costs to change significantly.