""I think the loan guarantee is an unfortunate precedent because the government intervened in a case-specific way... without clear criteria. Otherwise you'll just end up with a series of ad hoc precedents that will leave nobody any the wiser.""
""They can insure a company, but they can't insure a community and the impact on the wider community.""
The UK's cyber watchdog warns that the government's £1.5 billion bailout of Jaguar Land Rover could set a troubling precedent for future cyber crisis management. Ciaran Martin expressed concerns over the lack of clear criteria for government intervention, which may lead to ad hoc decisions. The Cyber Monitoring Centre estimates the financial impact of cyber incidents, including the JLR attack, at £1.9 billion. The cyber insurance market faces a significant protection gap, with most losses from large-scale incidents remaining uninsured, particularly affecting communities and supply chains.
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