A recent worldwide hacking incident - one that even managed to compromise government systems - will likely cost cyber insurers $90 million for incident response and forensic services, experts project.
Russian state-sponsored hackers are believed to be behind the cyberattack that exploited a vulnerability on the latest update of SolarWinds' IT management software.
As many as 18,000 SolarWinds customers - which include several US-based Fortune 500 companies and some agencies of the US and British governments - downloaded trojan malware hiding within the software update.
Experts say that the attack, while a national security nightmare, was fortunately not as disruptive to insurers.
"Although the SolarWinds attack is a cyber catastrophe from a national security perspective, insurers may have narrowly avoided a catastrophic financial incident to their businesses," BitSight director of insurance programs and partnerships Samit Shah explained in a blog post.
