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Cybersecurity #insurance only a #piece of #data #protection #strategy

Source: National Cyber Security – Produced By Gregory Evans

Many organizations are reinforcing their cybersecurity strategy by signing up for cybersecurity insurance. Cybersecurity insurance is still in its nascent stage of development, but businesses worldwide are beginning to recognize its importance in today’s evolving threat landscape: Auditing firm PwC predicts insurance policy premiums to grow to $7.5 billion by the end of the decade.

At the recent MIT Sloan CFO Summit in Boston, panelists during a session titled Cybersecurity: How much is too much? talked about the role cybersecurity insurance plays in an organization’s overall cybersecurity strategy.

“In terms of cyber insurance, it is a pretty new industry; it’s still maturing,” Aparna Ramesh, ‎CFO at the Federal Reserve Bank of Boston, said. “I think it will be interesting to see what kind of analysis and information comes out once this industry matures.”

Designed to mitigate financial losses from incidents like data breaches, cyber insurance can protect businesses from some of the risks involved in doing business online. Cybersecurity insurance policies can help cover extra expenditures such as regulatory costs and meeting customer notification requirements that result from the theft or destruction of digital assets.

But Pietr Lindahl, senior director of cyber threat reduction and strategic analysis at ‎Philips, advised organizations against solely relying on cyber insurance.

“It may help soften the blow from a financial perspective, but hasn’t done anything to protect your brand reputation or ensure business continuity,” Lindahl said.

Several factors are considered when budgeting and planning an organization’s cybersecurity investments such as insurance policies, Lindahl said. The amount of money budgeted will vary based on the company’s risk profile, what kind of information they have that could be targeted and what kind of proprietary information they have, he added. He also advised organizations to annually reevaluate their threat landscape and risk appetite.

Scott Ward, CFO at Cybereason and a co-panelist, sees cybersecurity insurance as “just another tool in the toolkit” of organizations trying to prevent and prepare for cyberattacks.

To think of it as a silver bullet is wrong, Ward reinforced. After Target’s huge 2013 data breach, cyber liability insurance covered only 36% of the companies associated costs, he reminded the audience.

“A lot of technology is still evolving, changing and improving and the same has to be said with cyber insurance policies. There is a lot of work going into those policies in the development and understanding what’s covered and what’s not. It’s definitely a work in progress,” Ward said.

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National #cybersecurity #strategy can help #Ireland cement its place as an #infosec #hub within #Europe

more information on sonyhack from leading cyber security expertsSource: National Cyber Security – Produced By Gregory Evans Something interesting has happened in the past year: the term ‘cybersecurity’ has finally entered the mainstream. Due to a period of global instability and numerous cyberattacks by actors eager to take advantage of the uncertainty wrought by Brexit and Trump, the issue of cybersecurity has never […] View full post on AmIHackerProof.com | Can You Be Hacked?

UN report: 50% of countries have no cybersecurity strategy in place

Source: National Cyber Security – Produced By Gregory Evans

Only 38% of countries have a published cybersecurity strategy, and just 12% are in the process of developing one, according to a new report from the United Nations (UN). The Global Cybersecurity Index 2017, created by the UN’s International Telecommunication Union (ITU) and released Wednesday, urges more countries to consider…

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Changing Technology Leads Evolving Cybersecurity Strategy

Source: National Cyber Security – Produced By Gregory Evans

Changing Technology Leads Evolving Cybersecurity Strategy

Dr. Jacob Shively, assistant professor of government at the University of West Florida, recently received a GROW Institute grant from the UWF Office of Research and Sponsored Programs to begin to look at the implications of technology and security policy. “My larger area of interest is national security and foreign…

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Lessons for business from US cyber security strategy

Source: National Cyber Security – Produced By Gregory Evans

Lessons for business from US cyber security strategy

This month has seen two important events for global cyber security – the updating of the United States government’s cyber security strategy and a detailed briefing on cyber threats from the US intelligence services. The executive order signed by Donald Trump gives individual heads of government agencies the final responsibility…

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One year on, is Australia’s cybersecurity strategy on track? Experts respond

Source: National Cyber Security – Produced By Gregory Evans

One year on, is Australia’s cybersecurity strategy on track? Experts respond

rime Minister Malcolm Turnbull launched Australia’s cybersecurity strategy in April 2016, and more than one year on, there’s work to be done. Upon launch, the strategy was criticised for its lack of funding and vague goals. Among other targets, it aimed to ensure more information was shared between government agencies…

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Why digital security should be part of every business strategy

Source: National Cyber Security – Produced By Gregory Evans

There is no doubt that in the highly digitalised world of 2017, digital security should be part of every business strategy, whether it’s for launching a new app or maintaining a website. We are collecting vast amounts of data – …

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5 ways to adapt your mobile security strategy for IoT

Source: National Cyber Security – Produced By Gregory Evans

Ready or not, the IoT wave is already breaking on enterprise shores. While smart, connected devices mean increased automation and digitisation, they also translate into new challenges that will require companies to shift their approach to security. Already, malware infecting …

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The Department of Homeland Security is essential to US cyber strategy

Source: National Cyber Security – Produced By Gregory Evans

The Department of Homeland Security is essential to US cyber strategy

Last week, President-elect Donald Trump formally nominated former commander of United States Southern Command Gen. John F. Kelly to serve as secretary of the Department of Homeland Security (DHS). In his announcement, he cited Gen. Kelly’s “decades of military service

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IRONSCALES Urges Enterprises to Incorporate Machine Learning into their Phishing Mitigation Strategy

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Source: National Cyber Security – Produced By Gregory Evans

IRONSCALES Urges Enterprises to Incorporate Machine Learning into their Phishing Mitigation Strategy

IRONSCALES, the first and only automated email phishing response solution to combine human intelligence with machine learning, today announced the release of its newest whitepaper, “Combatting Modern Email Phishing Attacks: The Power of Incorporating Machine Learning into a Phishing Mitigation

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