‍ ‍ ‍One of the most simultaneously exciting and challenging aspects of working in the cybersecurity industry is that the risk landscape and management practices never stop evolving. Additional data is continuously being gathered, and new frameworks are constantly developed to help organizations better assess, measure, and secure themselves against threat actors poised to exploit system weaknesses.

‍After cyber insurance rates skyrocketed from late 2020 to 2022, when the majority of the market had little choice but to switch to a completely remote way of working, prices have slowly started to drop. This new downward trend is promising, as organizations are increasingly searching for the most cost-effective ways to manage their cyber risks and offset potential losses.

Cybersecurity expertise is notoriously absent from the boardroom. Only last year, a market analysis found that a mere 12% of US Fortune 500 companies have a board member with adequate knowledge of cyber risk management. However, increased cybersecurity regulations, coupled with heightened cyber event costs, have begun to highlight the need to rectify this void as soon as possible.

‍After unearthing evidence as early as May 2024, cloud computing–company Snowflake released an official statement on June 2, reporting that they were investigating a series of targeted cyber events. A week later, Google's Mandiant, who, alongside Crowdstrike, is aiding Snowflake in this investigation, concluded that clients had been attacked after malicious actors had gotten access to compromised credentials.