LAS VEGAS (KTNV) — With MGM Resorts International and Caesars Entertainment still recovering from the fallout from twin cybersecurity attacks, it's still unclear whether the casino giants had cyber crime insurance.
The consensus from experts that Channel 13 has talked to, it seems very likely that both companies have some type of cyber insurance but policies can differ.
Dara Gibson, a cyber insurance services manager with a company called Optiv, said there are policies that will pay toward a ransomware payment.
"It would be very expensive to include (cyber crime coverage) into your cyber insurance policy," Gibson said.
Gennady Stolyarov, an actuary with the Nevada Division of Insurance, said cyber insurance premiums have steadily grown in recent years in Nevada and across the country.
"There is significant interest among businesses to obtain such coverage as data breaches and other risks have been prominent," Stolyarov said. "Many businesses in Nevada seek out such coverage."
The Vegas Chamber is also taking the cybersecurity issue head on.
A contingent of Las Vegas business and government agency leaders will travel to Washington, D.C. next week, where cyber breaches will be a big topic.
