This presentation examines to what extent that cyber-insurance can be a useful tool to manage the risks and harms caused by massive cyber-attacks from the national as opposed to enterprise standpoint,
Cyber insurance provides coverage for losses from cyber incidents and security breaches. It helps manage cyber risks through risk sharing. However, the cyber insurance market is still immature with global losses from cyber incidents exceeding the total cyber insurance market. Key challenges include asymmetric information between insurers and clients, interdependent and correlated cyber risks, and limited reinsurance capacity due to lack of claims data and potential for simultaneous global attacks.
Cyber crimes are growing rapidly and cyber liability insurance is the safest way for companies to stay harmless. Information security is expected by all the customers and loss of these information could cost a company loyal customers and financial crisis.
Managing and insuring cyber risk - coverage of insurance policiesIISPEastMids
This document provides an overview of typical cyber insurance policy coverage, including available first party losses coverage for breach costs, business interruption, hacker damage, and cyber extortion. It also discusses third party liability coverage for privacy claims, investigations, and media liability. Common pitfalls are outlined, such as precautions against loss, employee dishonesty exclusions, issues with third party suppliers, and jurisdictional limits. The summary emphasizes that cyber policies can vary and understanding the specific risks to your business and the details of coverage is important, advising the reader to seek advice when purchasing a policy.
“Cyber Liability & Cyber Insurance” - A discussion on best practices around Prevention, Detection, and Response!
Sponsored by Datto and Webster Bank
Series brought to you by the Connecticut Technology Council.
____________
TOPIC FOCUS:
1. Evolution and acceptance of Cybersecurity insurance
a. Understanding risk & effect on businesses
i. Used to be major brands, now widespread.
ii. Risk recognized, business leaders looking to minimize risk
b. Describing changes in cybersecurity insurance
How coverages have evolved - not just for biggest companies
i. Insurers are working with (tech) companies to get it right
ii. Where is it going from here? Trends, specialty insurance
2. Describe insurance types/ specifics and how they perform when needed
. Not all policies are the same
a. What to look for
b. How they vary by type of business (Healthcare vs. Retail vs. Software Co.)
c. What gaps still remain (What can’t get covered?)
3. How to minimize cost, get most value for your company
. Some protections on your current policies
a. Gating elements - What the insurance companies want to see - how that might help costs
4. Best practices generally
Cyber Liability - Insurance Risk Management and PreparationEric Reehl
See how Adaptive Solutions is delivering leading cyber risk management solutions through its strategic alliance with Willis Towers Watson and Darklight Technologies.
The document provides an overview of cyber insurance and how it can help small to mid-sized businesses manage the risks and costs associated with a data breach or cyber attack. It discusses the common costs of a breach, the need to assess risks and define an incident response plan, and how cyber insurance can help cover expenses, provide expert guidance and services, and help businesses stay operational after a breach.
This document discusses cyber risks and cyber liability insurance. It summarizes that many major companies have experienced data breaches in recent years. It outlines common cyber risks like computer intrusions, loss of physical devices, and social media issues. It recommends basic loss control techniques and identifies what cyber liability insurance can cover, such as first and third party losses from network security breaches, privacy breaches, and internet media liability. Coverage limits start at $100,000 with premiums as low as $250.
Cyber insurance provides coverage for losses from cyber incidents and security breaches. It helps manage cyber risks through risk sharing. However, the cyber insurance market is still immature with global losses from cyber incidents exceeding the total cyber insurance market. Key challenges include asymmetric information between insurers and clients, interdependent and correlated cyber risks, and limited reinsurance capacity due to lack of claims data and potential for simultaneous global attacks.
Cyber crimes are growing rapidly and cyber liability insurance is the safest way for companies to stay harmless. Information security is expected by all the customers and loss of these information could cost a company loyal customers and financial crisis.
Managing and insuring cyber risk - coverage of insurance policiesIISPEastMids
This document provides an overview of typical cyber insurance policy coverage, including available first party losses coverage for breach costs, business interruption, hacker damage, and cyber extortion. It also discusses third party liability coverage for privacy claims, investigations, and media liability. Common pitfalls are outlined, such as precautions against loss, employee dishonesty exclusions, issues with third party suppliers, and jurisdictional limits. The summary emphasizes that cyber policies can vary and understanding the specific risks to your business and the details of coverage is important, advising the reader to seek advice when purchasing a policy.
“Cyber Liability & Cyber Insurance” - A discussion on best practices around Prevention, Detection, and Response!
Sponsored by Datto and Webster Bank
Series brought to you by the Connecticut Technology Council.
____________
TOPIC FOCUS:
1. Evolution and acceptance of Cybersecurity insurance
a. Understanding risk & effect on businesses
i. Used to be major brands, now widespread.
ii. Risk recognized, business leaders looking to minimize risk
b. Describing changes in cybersecurity insurance
How coverages have evolved - not just for biggest companies
i. Insurers are working with (tech) companies to get it right
ii. Where is it going from here? Trends, specialty insurance
2. Describe insurance types/ specifics and how they perform when needed
. Not all policies are the same
a. What to look for
b. How they vary by type of business (Healthcare vs. Retail vs. Software Co.)
c. What gaps still remain (What can’t get covered?)
3. How to minimize cost, get most value for your company
. Some protections on your current policies
a. Gating elements - What the insurance companies want to see - how that might help costs
4. Best practices generally
Cyber Liability - Insurance Risk Management and PreparationEric Reehl
See how Adaptive Solutions is delivering leading cyber risk management solutions through its strategic alliance with Willis Towers Watson and Darklight Technologies.
The document provides an overview of cyber insurance and how it can help small to mid-sized businesses manage the risks and costs associated with a data breach or cyber attack. It discusses the common costs of a breach, the need to assess risks and define an incident response plan, and how cyber insurance can help cover expenses, provide expert guidance and services, and help businesses stay operational after a breach.
This document discusses cyber risks and cyber liability insurance. It summarizes that many major companies have experienced data breaches in recent years. It outlines common cyber risks like computer intrusions, loss of physical devices, and social media issues. It recommends basic loss control techniques and identifies what cyber liability insurance can cover, such as first and third party losses from network security breaches, privacy breaches, and internet media liability. Coverage limits start at $100,000 with premiums as low as $250.
Cyber liability insurance provides protection against the risks associated with data breaches and loss of personally identifiable information. As property owners and managers collect large amounts of private data on residents, employees, and applicants, the costs of a cyber attack or data breach can be substantial. Cyber liability policies cover expenses like notification of affected individuals, credit monitoring, lawsuits, investigations, and loss of business resulting from attacks. While prevention is important through security measures and policies, the growing threat of cyber crime means companies should evaluate cyber liability insurance as part of their risk management strategy.
This document discusses cyber liability insurance. It begins by defining cyber risk as any risk of financial loss, disruption, or damage to an organization's reputation from a failure of its information technology systems. It then discusses the types of damages that can occur, including non-physical damages like data corruption or theft and physical damages like system manipulation. It notes that all companies have cyber risk. It discusses how industries like energy are particularly exposed to risks like power grid hacking. The document outlines common insurable cyber risks, underwriting considerations for pricing cyber policies, and ways organizations can manage their cyber risks.
Please find enclosed some of the material relating to our ANZIIF CPD accredited Cyber Insurance training.
If the noise and rhetoric is getting too much, let us come and walk you through the how, what , when and where of Cyber Insurance
Discussing Cyber Risk Coverage With Your Commercial Clients by Steve Robinson...Don Grauel
Steve Robinson of RPS Technology & Cyber presented "Discussing Cyber Risk Coverage With Your Commercial Clients" to the 68th Annual F. Addison Fowler Fall Seminar on October 17, 2014.
Gowlings - November 12, 2014
In an ever-increasing digital world, all businesses face challenges in managing and protecting sensitive and confidential information. In this presentation Gowlings and Marsh Canada Limited addressed best practices for responding to a cyber breach, and what types of insurance may be available to respond to such a loss. Topics included:
• Trends, and the evolution of cyber insurance/products
• The D&O connection, cyber is a strategic business risk
• Risk Management Strategies
• Best Practices in Breach Response.
This document discusses cybersecurity risks and challenges for banks. It notes that banks hold sensitive financial and customer data, making them attractive targets for sophisticated cyber attacks seeking monetary rewards. The document outlines key cybersecurity issues banks face such as regulatory compliance pressures, consumerization trends, emerging attack types like APTs, and the sophistication of threats. It provides examples of past attacks on banks and discusses security challenges from e-banking, mobile banking, outsourcing, and PSD2 regulations. The document advocates for strategies like threat intelligence, compliance with standards like PCI DSS and ISO 27001, and information security maturity to help banks mitigate cybersecurity risks.
This document discusses a panel discussion on cyber liability coverage. It includes:
1) An overview of what constitutes "cyber" liability, including failures of network security, wrongful disclosure of information, privacy/security investigations, and media content issues.
2) Examples of coverage sections in cyber policies, including first party coverage for expenses/business interruption and third party coverage for liability.
3) Hypothetical breach scenarios involving exposed PII, negligent service providers, state-sponsored hacking, and network/property damage.
4) A discussion of social engineering threats and how related losses may be covered under crime policies or financial bonds depending on if hacking or authorized users were involved.
The document discusses how cybersecurity risks have become a major topic of discussion at high levels of organizations due to a combination of forces over the past decade. Sophisticated attackers now outpace security controls, and data breach disclosure laws have led to extensive media coverage of cyber attacks. This has increased pressure on boards of directors to oversee cybersecurity risks. Several case studies of large companies that suffered data breaches like Sony, Target, and TJX are presented to show how cyber attacks can significantly impact businesses but typically do not cause their downfall.
This document discusses privacy and security risks in the digital age and strategies for managing those risks. It outlines increasing regulation at the federal, state, and international levels related to data breaches and privacy. This has led organizations to undertake multiple, siloed compliance efforts. The document proposes a unified approach to information security compliance that addresses all legal requirements and uses popular standards. It also discusses how risk transfer through insurance can help organizations manage security and privacy risks.
The document discusses various topics related to cyber insurance and cyber risks. It reports on startling cybercrime numbers from Australia's cybercrime reporting network, and how Lloyd's is appealing to brokers to help standardize cyber risk data collection. It also discusses how the Australian and US governments will strengthen their partnership to combat cybercrime, and predictions that cyber insurance in Asia will significantly increase in the next few years.
Shaping Your Future in Banking Cybersecurity Dawn Yankeelov
Designed for bankers, this cybersecurity policy presentation given via partnership with the BSG Financial Group explains where the industry should pay attention and what is next. It was presented on Jan. 24, 2017.
Basics of insurance coverage and evolving issues surrounding cyber, data breaches, and a big picture overview of how it impacts businesses and the lawyers advising them.
An overview of the Massachusetts 201 CMR 17 Data Privacy Law which goes in to effect on March 1. Contact information is available for each presenter in the slidedeck.
Please contact any of us with questions.
New York Department of Financial Services Cybersecurity RegulationsShawn Tuma
Getting in Shape – NYDFS Cyber Security Regulations Webinar
Presenters: Shawn Tuma, Cybersecurity & Data Protection Attorney, Scheef & Stone LLP | Bill Belcher, VP Americas, Boldon James In an initiative to protect New York’s financial services industry, a new State regulation has been introduced to protect consumers and financial institutions from cyber-attacks. Effective March 1, 2017, this risk-driven regulation requires all financial services institutions regulated by the Department of Financial Services (DFS) to establish and maintain a cyber security program that will protect both customers’ private data and the technology that supports this. The impact stretches down through the supply chain, as any organization that conducts business with the NYC financial services sector has to adopt the same level of data protection.
Watch this webcast to learn:
The key requirements of the NYC Cyber security regulation
How compliance is about process first, then people and technology
What organizations need to be doing to ensure they comply
How data classification can help ensure compliance
NYDFS Cybersecurity Regulations (23 NYCRR 500) New York is one of the biggest financial hubs in the world; as you can imagine where there is sensitive financial information, there are people who want to get their hands on it. It is for this reason major financial firms operating in New York will face stiff cyber security obligations under the new New York Department of Financial Services Cybersecurity Regulations (23 NYCRR 500). This regulation will apply to firms holding a banking, insurance or financial services licence to operate in New York. 23 NYCRR 500 has been effective as of March 1st 2017, although firms have 180 days from this introduction date to change internal systems in order to meet new compliance and regulation standards. This fact sheet outlines:
23 NYCRR 500 overview
Key dates for covered entities
Key tasks for compliance
How Boldon James can help
Please complete the adjoining form to request it.
The document discusses preparing for and responding to cybersecurity incidents and data breaches. It provides an overview of Breach Education Alliance, an integrated team approach for responding to breaches. It then discusses best practices for security investigations, including establishing goals and understanding common causes of incidents. Potential mistakes in investigations and security are outlined. The document emphasizes training employees, understanding your environment and business risks, and having the proper resources in place before, during and after a security incident.
4 Steps to Financial Data Security Compliance Technologies to Help Your Finan...SafeNet
This document discusses 4 steps that financial service organizations can take to achieve compliance with data security regulations:
1) Secure data in motion by encrypting network traffic over WANs using high-speed encryption.
2) Protect data at rest by encrypting data on devices using disk and file encryption.
3) Control access using strong authentication solutions.
4) Protect encryption keys using hardware security modules to ensure data integrity.
Implementing encryption technologies across these four areas provides comprehensive protection of data assets and facilitates secure access, helping organizations comply with various data security laws.
Shifting Risks and IT Complexities Create Demands for New Enterprise Security...Booz Allen Hamilton
The document discusses the evolving cybersecurity landscape and how it is forcing chief information security officers (CISOs) and chief risk officers (CROs) to reevaluate their strategies and take on new roles. Interviews with security executives found that advanced persistent threats are increasing in frequency and sophistication. This complex threat landscape requires a predictive approach focused on prevention over reaction. It also requires CISOs and CROs to communicate cybersecurity risks to executives in business terms. Many organizations are considering partnering with external cybersecurity firms to access skills and technologies beyond their internal capabilities and manage risks more effectively.
Contents lists available at ScienceDirectJournal of AccounAlleneMcclendon878
This summary provides the key points from the document in 3 sentences:
The document discusses cybersecurity insurance and developing a model to determine the optimal set of insurance policies for a firm to purchase. The model considers minimizing the total cost of insurance premiums and expected losses not covered by the policies. Purchasing multiple policies that result in at least three areas of potential losses not covered can help address issues like high deductibles and low coverage ceilings in cybersecurity insurance.
Cyber liability insurance provides protection against the risks associated with data breaches and loss of personally identifiable information. As property owners and managers collect large amounts of private data on residents, employees, and applicants, the costs of a cyber attack or data breach can be substantial. Cyber liability policies cover expenses like notification of affected individuals, credit monitoring, lawsuits, investigations, and loss of business resulting from attacks. While prevention is important through security measures and policies, the growing threat of cyber crime means companies should evaluate cyber liability insurance as part of their risk management strategy.
This document discusses cyber liability insurance. It begins by defining cyber risk as any risk of financial loss, disruption, or damage to an organization's reputation from a failure of its information technology systems. It then discusses the types of damages that can occur, including non-physical damages like data corruption or theft and physical damages like system manipulation. It notes that all companies have cyber risk. It discusses how industries like energy are particularly exposed to risks like power grid hacking. The document outlines common insurable cyber risks, underwriting considerations for pricing cyber policies, and ways organizations can manage their cyber risks.
Please find enclosed some of the material relating to our ANZIIF CPD accredited Cyber Insurance training.
If the noise and rhetoric is getting too much, let us come and walk you through the how, what , when and where of Cyber Insurance
Discussing Cyber Risk Coverage With Your Commercial Clients by Steve Robinson...Don Grauel
Steve Robinson of RPS Technology & Cyber presented "Discussing Cyber Risk Coverage With Your Commercial Clients" to the 68th Annual F. Addison Fowler Fall Seminar on October 17, 2014.
Gowlings - November 12, 2014
In an ever-increasing digital world, all businesses face challenges in managing and protecting sensitive and confidential information. In this presentation Gowlings and Marsh Canada Limited addressed best practices for responding to a cyber breach, and what types of insurance may be available to respond to such a loss. Topics included:
• Trends, and the evolution of cyber insurance/products
• The D&O connection, cyber is a strategic business risk
• Risk Management Strategies
• Best Practices in Breach Response.
This document discusses cybersecurity risks and challenges for banks. It notes that banks hold sensitive financial and customer data, making them attractive targets for sophisticated cyber attacks seeking monetary rewards. The document outlines key cybersecurity issues banks face such as regulatory compliance pressures, consumerization trends, emerging attack types like APTs, and the sophistication of threats. It provides examples of past attacks on banks and discusses security challenges from e-banking, mobile banking, outsourcing, and PSD2 regulations. The document advocates for strategies like threat intelligence, compliance with standards like PCI DSS and ISO 27001, and information security maturity to help banks mitigate cybersecurity risks.
This document discusses a panel discussion on cyber liability coverage. It includes:
1) An overview of what constitutes "cyber" liability, including failures of network security, wrongful disclosure of information, privacy/security investigations, and media content issues.
2) Examples of coverage sections in cyber policies, including first party coverage for expenses/business interruption and third party coverage for liability.
3) Hypothetical breach scenarios involving exposed PII, negligent service providers, state-sponsored hacking, and network/property damage.
4) A discussion of social engineering threats and how related losses may be covered under crime policies or financial bonds depending on if hacking or authorized users were involved.
The document discusses how cybersecurity risks have become a major topic of discussion at high levels of organizations due to a combination of forces over the past decade. Sophisticated attackers now outpace security controls, and data breach disclosure laws have led to extensive media coverage of cyber attacks. This has increased pressure on boards of directors to oversee cybersecurity risks. Several case studies of large companies that suffered data breaches like Sony, Target, and TJX are presented to show how cyber attacks can significantly impact businesses but typically do not cause their downfall.
This document discusses privacy and security risks in the digital age and strategies for managing those risks. It outlines increasing regulation at the federal, state, and international levels related to data breaches and privacy. This has led organizations to undertake multiple, siloed compliance efforts. The document proposes a unified approach to information security compliance that addresses all legal requirements and uses popular standards. It also discusses how risk transfer through insurance can help organizations manage security and privacy risks.
The document discusses various topics related to cyber insurance and cyber risks. It reports on startling cybercrime numbers from Australia's cybercrime reporting network, and how Lloyd's is appealing to brokers to help standardize cyber risk data collection. It also discusses how the Australian and US governments will strengthen their partnership to combat cybercrime, and predictions that cyber insurance in Asia will significantly increase in the next few years.
Shaping Your Future in Banking Cybersecurity Dawn Yankeelov
Designed for bankers, this cybersecurity policy presentation given via partnership with the BSG Financial Group explains where the industry should pay attention and what is next. It was presented on Jan. 24, 2017.
Basics of insurance coverage and evolving issues surrounding cyber, data breaches, and a big picture overview of how it impacts businesses and the lawyers advising them.
An overview of the Massachusetts 201 CMR 17 Data Privacy Law which goes in to effect on March 1. Contact information is available for each presenter in the slidedeck.
Please contact any of us with questions.
New York Department of Financial Services Cybersecurity RegulationsShawn Tuma
Getting in Shape – NYDFS Cyber Security Regulations Webinar
Presenters: Shawn Tuma, Cybersecurity & Data Protection Attorney, Scheef & Stone LLP | Bill Belcher, VP Americas, Boldon James In an initiative to protect New York’s financial services industry, a new State regulation has been introduced to protect consumers and financial institutions from cyber-attacks. Effective March 1, 2017, this risk-driven regulation requires all financial services institutions regulated by the Department of Financial Services (DFS) to establish and maintain a cyber security program that will protect both customers’ private data and the technology that supports this. The impact stretches down through the supply chain, as any organization that conducts business with the NYC financial services sector has to adopt the same level of data protection.
Watch this webcast to learn:
The key requirements of the NYC Cyber security regulation
How compliance is about process first, then people and technology
What organizations need to be doing to ensure they comply
How data classification can help ensure compliance
NYDFS Cybersecurity Regulations (23 NYCRR 500) New York is one of the biggest financial hubs in the world; as you can imagine where there is sensitive financial information, there are people who want to get their hands on it. It is for this reason major financial firms operating in New York will face stiff cyber security obligations under the new New York Department of Financial Services Cybersecurity Regulations (23 NYCRR 500). This regulation will apply to firms holding a banking, insurance or financial services licence to operate in New York. 23 NYCRR 500 has been effective as of March 1st 2017, although firms have 180 days from this introduction date to change internal systems in order to meet new compliance and regulation standards. This fact sheet outlines:
23 NYCRR 500 overview
Key dates for covered entities
Key tasks for compliance
How Boldon James can help
Please complete the adjoining form to request it.
The document discusses preparing for and responding to cybersecurity incidents and data breaches. It provides an overview of Breach Education Alliance, an integrated team approach for responding to breaches. It then discusses best practices for security investigations, including establishing goals and understanding common causes of incidents. Potential mistakes in investigations and security are outlined. The document emphasizes training employees, understanding your environment and business risks, and having the proper resources in place before, during and after a security incident.
4 Steps to Financial Data Security Compliance Technologies to Help Your Finan...SafeNet
This document discusses 4 steps that financial service organizations can take to achieve compliance with data security regulations:
1) Secure data in motion by encrypting network traffic over WANs using high-speed encryption.
2) Protect data at rest by encrypting data on devices using disk and file encryption.
3) Control access using strong authentication solutions.
4) Protect encryption keys using hardware security modules to ensure data integrity.
Implementing encryption technologies across these four areas provides comprehensive protection of data assets and facilitates secure access, helping organizations comply with various data security laws.
Shifting Risks and IT Complexities Create Demands for New Enterprise Security...Booz Allen Hamilton
The document discusses the evolving cybersecurity landscape and how it is forcing chief information security officers (CISOs) and chief risk officers (CROs) to reevaluate their strategies and take on new roles. Interviews with security executives found that advanced persistent threats are increasing in frequency and sophistication. This complex threat landscape requires a predictive approach focused on prevention over reaction. It also requires CISOs and CROs to communicate cybersecurity risks to executives in business terms. Many organizations are considering partnering with external cybersecurity firms to access skills and technologies beyond their internal capabilities and manage risks more effectively.
Contents lists available at ScienceDirectJournal of AccounAlleneMcclendon878
This summary provides the key points from the document in 3 sentences:
The document discusses cybersecurity insurance and developing a model to determine the optimal set of insurance policies for a firm to purchase. The model considers minimizing the total cost of insurance premiums and expected losses not covered by the policies. Purchasing multiple policies that result in at least three areas of potential losses not covered can help address issues like high deductibles and low coverage ceilings in cybersecurity insurance.
This white paper discusses cyber security predictions and trends for the next 18 months. It outlines 5 trends: 1) major mobile exploits due to increased mobility and devices, 2) open source vulnerabilities as adversaries target these, 3) supply chain attacks remaining critical as vendors are easier targets, 4) increased industry-specific attacks and malware, and 5) greater privacy legislation in response to public concerns about data collection. The paper recommends organizations assess their use of open source software, supply chain security policies, industry-specific defenses, and data privacy practices to address these evolving threats.
What Building Owners Need to Know About Cyber Security Insurance!Memoori
Memoori was joined by Tina Jolliffe from Consort Insurance to discuss exactly what commercial building owners & operators need to know to make sure they properly mitigate the risk posed by cybercrime. As our recent market research report shows, cyber security consistently ranks as one of the top 3 concerns worrying organizations that are considering investment in IoT or digital transformation projects.
Security - intelligence - maturity-model-ciso-whitepaperCMR WORLD TECH
This document discusses the need for organizations to shift from a prevention-focused approach to cybersecurity to one focused on rapid detection and response. It notes that most organizations have mean times to detect threats of weeks or months, leaving critical systems vulnerable. The document introduces the concept of security intelligence and outlines a threat detection and response lifecycle that organizations should optimize to reduce their mean time to detect and respond to threats. This involves processes like discovering threats, qualifying them, investigating incidents, and mitigating risks.
We are living in a world where cyber security is a top priority for .pdfgalagirishp
We are living in a world where cyber security is a top priority for all governments and
businesses. In fact, last week the United States announced cyber security as its biggest. James
Clapper, the Director of National Intelligence, says that “the world is applying digital
technologies faster than our ability to understand the security implications and mitigate potential
risks.” Hackers are able to get ahead of governments because they are applying technology faster
than many can understand it.
(http://ca.reuters.com/article/technologyNews/idCABRE92B0LS20130312)
These attackers are persistent, and it is important to be aware of the methods used by hackers as
it is an important step towards defending sensitive company data.
When a hacker strikes, the cost to a company could potentially be millions of dollars. Not only
will it affect the bottom line, but hard-earned reputations can be compromised or destroyed.
It is important to recognize the differences between the different kinds of cyber threats: external
and internal. An external, or outsider threat is much trickier to pinpoint. It can be “from someone
that does not have authorized access to the data and has no formal relationship to the company.”
They could be from someone who is actively targeting the company, or accidentally from
someone who found a lost mobile device.
Internal threats are likely to come from an authorized individual that has easy access to sensitive
corporate data as part of their day-to-day duties. This could be anyone working within the
company or acting as a third party representative. The Global Knowledge Blog states that
insiders have a much greater advantage because they have means, motive, and opportunity,
whereas outsiders most often only have a motive.
(http://globalknowledgeblog.com/technology/security/hacking-cybercrime/insider-vs-outsider-
threats/)
When focusing on internal threats, we have made a digital security check list:
Implement an Intrusion Detection System (IDS). These systems act like security cameras
watching a network. They react to suspicious activity by logging off suspect users, or in some
cases, they might reprogram firewalls to snag a possible intrusion.
Implement a log management platform that will centralize all the logs and correlate to find
threats and alert on them.
Stay proactive with Identity Management systems that will monitor high risk or suspicious user
activity by detecting and correcting situations that are out of compliance or present a security
risk.
Be aware of who has keys and access codes to vulnerable information. Monitor the activity
when these spaces are accessed, authorized, or not.
Create safety policies for when employees with these security privileges leave the company or
are terminated. This will reduce the risk of theft due to careless behaviour, or break-ins from
disgruntled employees.
Get employees involved with the security procedures of the company. As a team, you can work
to strengthen your digital security pr.
Many of the early adopters of cyber risk transfer were based in the US, (owing to the extremely strict legal requirement to notify all customers affected by a data breach). However recent developments are showing that cyber risks are not just a US problem. The past 18 months Aon has seen a dramatic increase in the number of companies outside the US purchasing cyber risk transfer.
White Paper :- Spear-phishing, watering hole and drive-by attacks :- The New ...Invincea, Inc.
The single largest threat your organization faces today is network breach. Spear-phishing, poisoned search results, drive-by downloads, and legitimate sites being compromised to push malware are all part of our current reality. The most successful and common attacks vectors stem from targeted attacks on your employees. Organizations need to utilize solutions that protect their network from user error and support requirements for continuous monitoring, real-time situational awareness and providing actionable threat intelligence for their security teams.
- Terrorism remains a persistent threat in the United States, though most attacks since 9/11 have involved arson or conventional explosives and caused limited damage. Al Qaeda and other groups still aspire to conduct more destructive attacks.
- Terrorism risk models can estimate the likelihood and impact of some events similar to past attacks, but cannot reliably predict threats differently than historical incidents given limited data.
- The TRIA program helps ensure compensation is available after attacks and supports recovery, though it only covers incidents insurers can model, with taxpayers protected from extreme losses above $27.5 billion. Renewing TRIA may increase national security by promoting resilience.
Cost of Cybercrime Study in Financial Services: 2019 Reportaccenture
Now in its 9th year, this new Accenture presentation explores the impact associated with cybercrime, quantifying the cost of cyberattacks and analyzing trends in malicious activities in the financial services industry. And this year for the first time, we look to the future so that financial services organizations can better target their funds and resources and open up new revenue opportunities to unlock economic value.
The document discusses how predictive cyber intelligence can help organizations stay ahead of both cyber and physical security threats. It notes that investigations often find warning signs were missed by conventional defenses. The challenge is for organizations to detect potential threats early through tools like predictive cyber intelligence, which uses software and hardware to monitor public information for pre-incident indicators. This allows businesses to contain threats before damage occurs, whereas reactive security measures only address threats after the fact. The document provides examples of both cyberattacks and physical security risks organizations face and argues that predictive cyber intelligence can add important depth to defensive strategies.
This document discusses security threats that companies will face in 2020. It notes that cybercrime is increasing in frequency and severity. Emerging threats include the growth of connected devices and societies, vulnerabilities in medical devices, increased machine-to-machine interactions, reliance on mobile devices, growth of cloud services, and risks around big data. The document warns that security needs to protect all aspects of the enterprise from the data center to mobile devices and beyond. Adversaries are increasingly sophisticated and companies must manage security risks in a connected world.
The document discusses cybersecurity challenges and capabilities in the insurance industry based on a survey conducted by Accenture Security. Some key findings include:
- Insurance companies have made progress in their cybersecurity capabilities but around 20% of attempted breaches are still successful, exposing risk.
- While insurance leaders are confident in their cyber defenses, attackers are becoming more sophisticated so overconfidence could be an issue.
- Insurance companies need to invest more in advanced technologies like AI and automation to keep up with cyber criminals.
- Achieving mastery in cybersecurity for insurance companies would mean things like identifying breaches quickly, involving more than just the security team, and focusing on the right performance metrics beyond just underwriting losses.
The preset (third) “Hiscox Cyber Readiness Report 2019” provides you with an up-to-the-minute picture of the cyber readiness of organisations, as well as a blueprint for best practice in the fight to counter the ever-evolving cyber threat.
More businesses report being impacted by a cyber incident year-on-year, with the risk appearing to be indiscriminate when it comes to size of business or sector.
The cost of cyber crime to businesses appears to be on an aggressive upwards trajectory – up by as much as 61% in aggregate this year.
We Need to Prioritize Cybersecurity in 2020Matthew Doyle
Technology has sparked incredible advances in healthcare — but it hasn’t done so without risk. Cybersecurity has long been a hot-button issue for the healthcare sector. For many provider organizations, a major security breach constitutes a worst-case scenario, posing a significant threat to operations, patient trust, and confidential information alike.
The document discusses cybersecurity risks that boards of directors must address. It provides advice from seven cybersecurity experts on how boards should implement an effective risk management framework to detect threats, ensure early detection and monitoring, and develop robust recovery plans. The experts emphasize the importance of understanding a company's critical digital assets, supply chain risks, and continuously educating all levels of the organization on cybersecurity issues.
Cyber risk represents both risk and opportunity for insurance companies. While cyberattacks can result in multi-billion dollar losses, there is growing demand from companies for cyber insurance coverage. Actuaries can help develop sustainable cyber insurance products by analyzing available breach data, determining appropriate policy terms, and encouraging policyholders to strengthen cybersecurity. Offering generous policy limits alongside strict security requirements and high deductibles allows insurers to expand in this area while properly managing risk. The increasing need for cyber coverage represents a chance for actuaries to add value and for insurers to generate new revenue streams.
Can We Avert A Cyber-Insurance Market Crisis?Ethan S. Burger
This presentation examines to what extent that cyber-insurance can be a useful tool to manage the risks and harms caused by massive cyber-attacks from the national as opposed to enterprise standpoint --
2018 april - aba legal construct for understanding adversarial cyber activit...Ethan S. Burger
A Legal Construct for Understanding Adversarial Cyber Activities. This Presentation examines the international law applicable to cyber-operations in the public policy context. It draws attention to when existing legal principles cannot readily be applied to cyber-attacks. It identifies problems presented by politicians and international lawyers not having a common vocabulary
Russian [State] Organized Crime: Principal or Agent. Many people assert that Russia "is a criminal state." This presentation examines the relationship between the ruling Russian elite and organized crime, a distinction that is often gray. This presentation also sets out the legal framework for understanding Russian Organized Crime
2016 December -- Lithuanian Hybrid War PresentationEthan S. Burger
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help boost feelings of calmness, happiness and focus.
2016 December -- US, NATO, & The Baltics -- International Security and Cyber[...Ethan S. Burger
The document discusses cybersecurity issues in the Baltic states after the 2016 U.S. presidential election. It provides background on cyber attacks against Estonia and NATO's recognition of cyberspace as a domain of operations. It summarizes analyses that found NATO could not effectively repel a rapid Russian invasion of the Baltic states. The document also covers NATO and Baltic states' national cybersecurity strategies and organizations, and key dates in NATO cybersecurity coordination. It examines perspectives on applying international law to cyber conflicts and responses to cyber-only attacks.
1) The document discusses Russian criminal groups (RCGs) and their activities and influence in Australia and globally. It notes concerns about financial crimes, cyber crimes, illegal weapons exports, and other transnational crimes perpetrated by RCGs.
2) It provides background on the rise of organized crime in Russia after the fall of the Soviet Union and examines the structure and activities of major Russian companies and banks. It questions how closely international criminal networks centered around these companies are monitored.
3) The document analyzes Russia's arms export industry and questions whether all weapons sales are properly reported, as some may be shipped through third parties or private military companies.
This document provides an overview of the complex issues surrounding Ukrainian history, identity, and social cohesion. It touches on several key points:
1) Ukrainian history and identity are complicated questions without clear answers, as they involve differing perspectives on when the nation's history began, competing schools of historiography, shifting borders and ethnic groups over time.
2) Linguistic and ethnic identities in Ukraine are intertwined with political divisions, as Western and Central Ukraine identify more as Ukrainian while Eastern Ukraine has stronger Russian ties.
3) Since the conflicts in Crimea and the Donbas, national pride and identity have increased in Western and Central Ukraine, though opinions in Eastern Ukraine are more varied.
Complacency in the Face of Evolving Cybersecurity Norms is HazardousEthan S. Burger
Complacency in the face of evolving cybersecurity norms is hazardous. Executives and boards are often reluctant to adopt comprehensive cybersecurity policies due to costs and contradictory advice. However, failing to take action increases regulatory and legal risks. Cyberattacks are difficult to defend against and are becoming more sophisticated. Small and medium enterprises are particularly vulnerable targets but may underestimate threats due to limited resources. Government efforts to work with businesses on cybersecurity have been inconsistent, creating uncertainty around compliance. Cyberbreaches can result in significant litigation and liability for companies, especially as legal standards continue developing. Comprehensive and strategic planning is needed to address diverse cyberattack risks.
The Future of Criminal Defense Lawyer in India.pdfveteranlegal
https://veteranlegal.in/defense-lawyer-in-india/ | Criminal defense Lawyer in India has always been a vital aspect of the country's legal system. As defenders of justice, criminal Defense Lawyer play a critical role in ensuring that individuals accused of crimes receive a fair trial and that their constitutional rights are protected. As India evolves socially, economically, and technologically, the role and future of criminal Defense Lawyer are also undergoing significant changes. This comprehensive blog explores the current landscape, challenges, technological advancements, and prospects for criminal Defense Lawyer in India.
Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordinary And Special Businesses And Ordinary And Special Resolutions with Companies (Postal Ballot) Regulations, 2018
Lifting the Corporate Veil. Power Point Presentationseri bangash
"Lifting the Corporate Veil" is a legal concept that refers to the judicial act of disregarding the separate legal personality of a corporation or limited liability company (LLC). Normally, a corporation is considered a legal entity separate from its shareholders or members, meaning that the personal assets of shareholders or members are protected from the liabilities of the corporation. However, there are certain situations where courts may decide to "pierce" or "lift" the corporate veil, holding shareholders or members personally liable for the debts or actions of the corporation.
Here are some common scenarios in which courts might lift the corporate veil:
Fraud or Illegality: If shareholders or members use the corporate structure to perpetrate fraud, evade legal obligations, or engage in illegal activities, courts may disregard the corporate entity and hold those individuals personally liable.
Undercapitalization: If a corporation is formed with insufficient capital to conduct its intended business and meet its foreseeable liabilities, and this lack of capitalization results in harm to creditors or other parties, courts may lift the corporate veil to hold shareholders or members liable.
Failure to Observe Corporate Formalities: Corporations and LLCs are required to observe certain formalities, such as holding regular meetings, maintaining separate financial records, and avoiding commingling of personal and corporate assets. If these formalities are not observed and the corporate structure is used as a mere façade, courts may disregard the corporate entity.
Alter Ego: If there is such a unity of interest and ownership between the corporation and its shareholders or members that the separate personalities of the corporation and the individuals no longer exist, courts may treat the corporation as the alter ego of its owners and hold them personally liable.
Group Enterprises: In some cases, where multiple corporations are closely related or form part of a single economic unit, courts may pierce the corporate veil to achieve equity, particularly if one corporation's actions harm creditors or other stakeholders and the corporate structure is being used to shield culpable parties from liability.
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee
Presentation slides for a session held on June 4, 2024, at Kyoto University. This presentation is based on the presenter’s recent paper, coauthored with Hwang Lee, Professor, Korea University, with the same title, published in the Journal of Business Administration & Law, Volume 34, No. 2 (April 2024). The paper, written in Korean, is available at <https://shorturl.at/GCWcI>.
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...Massimo Talia
This guide aims to provide information on how lawyers will be able to use the opportunities provided by AI tools and how such tools could help the business processes of small firms. Its objective is to provide lawyers with some background to understand what they can and cannot realistically expect from these products. This guide aims to give a reference point for small law practices in the EU
against which they can evaluate those classes of AI applications that are probably the most relevant for them.
What are the common challenges faced by women lawyers working in the legal pr...lawyersonia
The legal profession, which has historically been male-dominated, has experienced a significant increase in the number of women entering the field over the past few decades. Despite this progress, women lawyers continue to encounter various challenges as they strive for top positions.
This document briefly explains the June compliance calendar 2024 with income tax returns, PF, ESI, and important due dates, forms to be filled out, periods, and who should file them?.
Business law for the students of undergraduate level. The presentation contains the summary of all the chapters under the syllabus of State University, Contract Act, Sale of Goods Act, Negotiable Instrument Act, Partnership Act, Limited Liability Act, Consumer Protection Act.