The Cost Of Downtime

Allan Hirt points out a new rule in the UK:

However, as of this week, if you have a company or work in the UK, things just got a whole lot more interesting. The UK government officially released a statement on January 28 which affects “critical industries”. Long story short: if you fall under the classification which seems to be limited right now to energy, transport, water, and health firms, you could be fined up to £17 million ($24 million in US Dollars at today’s exchange rate) in the event of a cyber attack taking you down. It was the WannaCry outages that precipitated the response (as an example, FedEx says WannaCry cost them about $300 million US Dollars). Remember this doozie from British Airways? Also covered under this new Network and Information Systems (NIS) Directive; it’s not just about security, but includes other things like power outages, hardware failure, and environmental hazards.

Read the whole thing.

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