In an era of global connectivity, online information and systems are playing an increasingly central role in business. According to data from Cisco, worldwide internet-connected devices will reach 50 billion by 2020, and with 15 billion devices already in 2015 it is apparent that an increasing numbers of companies, systems and information are working online.
Corporate treasury is now a top target for cyber-criminals. Treasury’s trove of personal and corporate data, its authority to make payments and move large amounts of cash quickly, and its often complicated structure make it an appealing choice for discerning fraudsters.
In January-February 2016, the EIU, surveyed 1,100 senior executives on data security practices within their firms. The survey’s primary objective was to analyse the differences, if any, between the C-suite and senior IT executives on data security.
The survey sample was recruited from companies with between $500 million and $10 billion in revenues, and is equally representative of the Americas, Asia-Pacific and European regions. The panel came from 20 industries, with no single industry accounting for more than 14% of the total.
This was a survey of senior executives. The C-suite segment, sometimes referred to herein as senior management or corporate leadership, consisted exclusively of C-suite executives (eg CEOs, CFO, COOs). The security segment, sometimes referred to herein as the security executives, consisted of the CIO and those who identified themselves as Chief Data Officers or Chief Information Security Officers (CISOs).
Each panel was asked an identical set of 20 questions, and the results have been reviewed for insight and commentary by a panel of independent experts.
Cyber-criminals are assaulting every part of the enterprise. But not all cyber-attacks are created equal. In the minds of senior executives, the greatest danger of cyber-attacks is damage to the reputation of the firm with its customers.
The Digital Multiplier: Five Steps To Digital Success In The Insurance SectorAccenture Insurance
Insurers are investing less than many of their counterparts in other industries in essential digital technology. They’re also achieving lower financial returns on this spending.
The few insurers that are generating good financial returns from their investments in digital technology have a big advantage over their competitors. They have grown revenue 64 percent more than other insurers that have invested heavily in digital technology and achieved a 48 percent better return on equity.
Corporate treasury is now a top target for cyber-criminals. Treasury’s trove of personal and corporate data, its authority to make payments and move large amounts of cash quickly, and its often complicated structure make it an appealing choice for discerning fraudsters.
In January-February 2016, the EIU, surveyed 1,100 senior executives on data security practices within their firms. The survey’s primary objective was to analyse the differences, if any, between the C-suite and senior IT executives on data security.
The survey sample was recruited from companies with between $500 million and $10 billion in revenues, and is equally representative of the Americas, Asia-Pacific and European regions. The panel came from 20 industries, with no single industry accounting for more than 14% of the total.
This was a survey of senior executives. The C-suite segment, sometimes referred to herein as senior management or corporate leadership, consisted exclusively of C-suite executives (eg CEOs, CFO, COOs). The security segment, sometimes referred to herein as the security executives, consisted of the CIO and those who identified themselves as Chief Data Officers or Chief Information Security Officers (CISOs).
Each panel was asked an identical set of 20 questions, and the results have been reviewed for insight and commentary by a panel of independent experts.
Cyber-criminals are assaulting every part of the enterprise. But not all cyber-attacks are created equal. In the minds of senior executives, the greatest danger of cyber-attacks is damage to the reputation of the firm with its customers.
The Digital Multiplier: Five Steps To Digital Success In The Insurance SectorAccenture Insurance
Insurers are investing less than many of their counterparts in other industries in essential digital technology. They’re also achieving lower financial returns on this spending.
The few insurers that are generating good financial returns from their investments in digital technology have a big advantage over their competitors. They have grown revenue 64 percent more than other insurers that have invested heavily in digital technology and achieved a 48 percent better return on equity.
Managing Cyber Risk: Are Companies Safeguarding Their Assets?EMC
This white paper summarizes the results of a survey done by RSA, NYSE Governance Series, and Corporate Board Member, in association with Ernst & Young, with 200 audit committee members responding on a variety of issues regarding their cyber risk oversight program.
White paper cyber risk appetite defining and understanding risk in the moder...balejandre
Managing risk is a balancing act for organizations of all sizes and disciplines. While some organizations take on too much risk, others arguably do not take on enough. Complicating this equation is the emergence of cyber as one of the most impactful sources of risk in the modern enterprise
SolarWinds Federal Webinar: Government Cyber Security Survey: What you told us SolarWinds
SolarWinds Federal Webinar: Government Cyber Security Survey: What you told us - November 1, 2017
In this webinar our panelists discussed how the federal government faces an array of challenges in cybersecurity. What are these challenges and how are they changing? Who are the actors threatening the government, and what tools are they using? Are countermeasures effective, or is the government losing the battle? Eliminating all risk is impossible, so how do government agencies manage the risk? Is the NIST Cybersecurity Framework (CSF) helpful? There’s a huge initiative to modernize federal systems; how does modernization affect an agency’s security posture? We discussed the fourth annual Federal Cybersecurity Survey results, and how agencies with strong IT controls are better prepared for security threats and are better able to manage risk.
In today’s global environment, technology and communications companies are facing increasingly complex challenges: weak and uneven global economic recovery, evolving regulatory and industry standards, frequent new product introductions, and large-scale network security breaches, all of which could potentially affect corporate profitability and, for some, survival. The stakes for the sector are high. With increased scrutiny on operating efficiencies and a need to constantly innovate to meet mercurial consumer tastes and demands, it is critical to access accurate and timely information, and proactively address risk at every level of the organization.
RE-GEN: a specialist solution
Recognising the need to develop solutions that reflect the demands of the global onshore renewables sector and drawing upon our leading insights into renewable energy risk, Aon has created RE-GEN, a facility exclusive to Aon clients.
Developed with leading insurers in the renewable energy market, RE-GEN offers specialist and comprehensive coverage specifically tailored for global onshore renewable energy plant investors, developers and operators.
Leveraging economies of scale, RE-GEN is able to draw upon the diversity of its portfolio and offer highly competitive and exclusive terms and conditions for Aon power clients, while delivering USD 400 million of dedicated capacity throughout the life cycle of a project.
Managing Cyber Risk: Are Companies Safeguarding Their Assets?EMC
This white paper summarizes the results of a survey done by RSA, NYSE Governance Series, and Corporate Board Member, in association with Ernst & Young, with 200 audit committee members responding on a variety of issues regarding their cyber risk oversight program.
White paper cyber risk appetite defining and understanding risk in the moder...balejandre
Managing risk is a balancing act for organizations of all sizes and disciplines. While some organizations take on too much risk, others arguably do not take on enough. Complicating this equation is the emergence of cyber as one of the most impactful sources of risk in the modern enterprise
SolarWinds Federal Webinar: Government Cyber Security Survey: What you told us SolarWinds
SolarWinds Federal Webinar: Government Cyber Security Survey: What you told us - November 1, 2017
In this webinar our panelists discussed how the federal government faces an array of challenges in cybersecurity. What are these challenges and how are they changing? Who are the actors threatening the government, and what tools are they using? Are countermeasures effective, or is the government losing the battle? Eliminating all risk is impossible, so how do government agencies manage the risk? Is the NIST Cybersecurity Framework (CSF) helpful? There’s a huge initiative to modernize federal systems; how does modernization affect an agency’s security posture? We discussed the fourth annual Federal Cybersecurity Survey results, and how agencies with strong IT controls are better prepared for security threats and are better able to manage risk.
In today’s global environment, technology and communications companies are facing increasingly complex challenges: weak and uneven global economic recovery, evolving regulatory and industry standards, frequent new product introductions, and large-scale network security breaches, all of which could potentially affect corporate profitability and, for some, survival. The stakes for the sector are high. With increased scrutiny on operating efficiencies and a need to constantly innovate to meet mercurial consumer tastes and demands, it is critical to access accurate and timely information, and proactively address risk at every level of the organization.
RE-GEN: a specialist solution
Recognising the need to develop solutions that reflect the demands of the global onshore renewables sector and drawing upon our leading insights into renewable energy risk, Aon has created RE-GEN, a facility exclusive to Aon clients.
Developed with leading insurers in the renewable energy market, RE-GEN offers specialist and comprehensive coverage specifically tailored for global onshore renewable energy plant investors, developers and operators.
Leveraging economies of scale, RE-GEN is able to draw upon the diversity of its portfolio and offer highly competitive and exclusive terms and conditions for Aon power clients, while delivering USD 400 million of dedicated capacity throughout the life cycle of a project.
Welcome to the March Edition of Crisis Management’s RecallRegister, Aon’s monthly recall and product safety newsletter. This publication provides a review of the month’s recalls as reported by the U.S. Consumer Product Safety Commission (CPSC), the U.S Food and Drug Administration (FDA), the U.S. Department of Agriculture (USDA), National Highway Traffic Safety Administration (NHTSA) and the Canadian Food Inspection Agency (CFIA). In addition to recall announcements, RecallRegister provides an update on the product recall and contamination insurance marketplace and environment. Each month, we highlight issues of importance including new markets and capacity, significant recall events and changes in legislation affecting the consumer products industry.
Welcome to the February Edition of Crisis Management’s Recall Register, Aon’s monthly recall and product safety newsletter. This publication provides a review of the month’s recalls as reported by the U.S. Consumer Product Safety Commission (CPSC), the U.S Food and Drug Administration (FDA), the U.S. Department of Agriculture (USDA), National Highway Traffic Safety Administration (NHTSA) and the Canadian Food Inspection Agency (CFIA). In addition to recall announcements, RecallRegister provides an update on the product recall and contamination insurance marketplace and environment. Each month, we highlight issues of importance including new markets and capacity, significant recall events and changes in legislation affecting the consumer products industry.
Welcome to the May Edition of Crisis Management’s RecallRegister, Aon’s monthly recall and product safety newsletter. This publication provides a review of the month’s recalls as reported by the U.S. Consumer Product Safety Commission (CPSC), the U.S Food and Drug Administration (FDA), the U.S. Department of Agriculture (USDA), National Highway Traffic Safety Administration (NHTSA) and the Canadian Food Inspection Agency (CFIA). In addition to recall announcements, RecallRegister provides an update on the product recall and contamination insurance marketplace and environment. Each month, we highlight issues of importance including new markets and capacity, significant recall events and changes in legislation affecting the consumer products industry.
Risk intelligence: How to reliably mitigate transaction risk and secure clean...Graeme Cross
This risk intelligence white paper is part of a series of publications from Aon Strategic Advisors & Transaction Solutions (ASATS). The series focuses on risk management and mitigation and is specifically created to help:
• Chief executives and corporate management board members pursuing growth strategies through M&A, or divesting
• Corporate tax managers, development officers and legal counsel responsible for planning, overseeing and / or delivering planned value from M&A
• Chief executive and chief financial officers of private-equity backed portfolio companies
• Private equity executives, portfolio managers and risk officers
• Corporate finance, accounting, tax and legal advisors servicing corporate and private
equity clients
The UK electorate’s 52/48 vote to leave the European Union has caused uncertainty in markets, with property investment one of the sectors generating the most headlines. Aon Hewitt Partner Nick Duff provides our lead story ‘Brexit and the immediate aftermath’ with some practical observations. He suggests despite some pressure on valuations, the UK property market is likely to hold up owing to its attractiveness to long term investors.
Political risk quarterly update Q3 2016Graeme Cross
Complementing the annual Political Risk Map, Aon’s political
risk newsletter is developed in partnership with Roubini Global
Economics, an independent, global research firm founded in 2004
by renowned economist Nouriel Roubini.
Guide to Unmanned Aircraft Systems (UAS)Graeme Cross
Unmanned Aircraft Systems (UAS) usage is expected to dramatically increase over the next five years. After the passing of the FAA Modernization and Reform Act of 2012, the FAA, under the direction of the Secretary of Transportation, gained authorization to begin integration of civil Unmanned Aircraft Systems into the National Air Space (NAS). In conjunction with the US Congress and state and local agencies, the FAA is working to create regulations on recreational and commercial applications that allow more streamlined access of unmanned aircraft to American businesses and institutions*. It is important to keep current with UAS regulations and news by following updates from the FAA, your aviation legal counsel, and your insurance broker.
2015 Annual Global Climate and Catastrophe ReportGraeme Cross
Global Catastrophe Losses Remain Below Average in 2015 Despite Uptick in Disaster Events
Global natural disasters in 2015 combined to cause economic losses of USD123 billion, an amount 30 percent below the 15-year average of USD175 billion. However, the losses were just eight percent lower on a median basis (USD134 billion). The economic losses were attributed to 300 separate events, compared to an average of 269. The disasters caused insured losses of USD35 billion, or 31 percent below the 15-year mean of USD51 billion and 14 percent lower than the median (USD40 billion). It comprised the lowest total since 2009. This was the fourth consecutive year with declining catastrophe losses since the record-setting year in 2011. Notable events during the year included winter storms in the United States; extensive flooding in parts of India, the US, UK, and China; a major earthquake in Nepal; record-setting tropical cyclones in the Pacific Ocean; European windstorms; and massive forest fires in Indonesia. The top three perils, flooding, severe thunderstorm, and wildfire, combined for 59 percent of all economic losses in 2015. Despite 32 percent of catastrophe losses occurring inside of the United States, it still accounted for 60 percent of global insured losses. This speaks to a higher rate of insurance penetration in the country.
This new publication, Cyber Claims Insight from Aon Benfield’s Cyber Practice Group, empowers readers with the resources and tools they need to understand the cyber landscape, including legal trends, claims and insurance coverage disputes.
2015 was an interesting year for the UK trade credit insurance market. There have been soft market conditions and premium rates have been at historically low levels, with the size and frequency of claims increasing alongside this. In 2016 we expect market conditions to remain competitive and pricing to stabilise. This is due to the claims environment and global uncertainty from commodity price volatility, the Chinese stock market and a potential housing bubble in the UK.
Aon manages more than 1,250 captives worldwide with annual premiums of over $21 billion, and invested assets totaling in excess of $58 billion. Captives are one of Aon’s core solutions, and we are constantly developing data to assist our clients in determining whether or not a captive will work for their company.
It is our pleasure to bring to you Aon’s annual Property, Casualty and Political Violence (PC&PV) London Market Review.
The report contains a reflective view on 2015, including the 1 January 2016 renewals, forward looking commentary on how Aon views the major themes in the market developing over the coming year.
For a company like Aon, sectors like food and drink manufacturing are our lifeblood. The industry employs over 400,000 people in the UK, accounts for more than £80bn in annual turnover and we are proud to work with many of the sector’s leading companies in the UK and across the world.
ADAM ADLER MIAMI Adam Adler is a serial entrepreneur with over 18 years experience all at top level management and ownership. Primarily investing his own capital and building brands from the ground up.
Big Iron to Big Data Analytics for Security, Compliance, and the MainframePrecisely
Security Information and Event Management (SIEM) technologies and practices continue to expand across IT organizations to address security concerns and meet compliance mandates. However, in many of these organizations the mainframe remains an isolated technology platform. Security & compliance issues are addressed using old tools that are not effectively integrated into big data analytics platforms. In this webinar we discuss how to leverage mainframe (Big Iron) data sources into Big Data analytics platforms to address a variety of mainframe security challenges. Additionally, we cover:
• How to integrate IBM z/OS mainframe security data into an enterprise SIEM solution
• How to leverage IBM z/OS security data to detect threats in the mainframe environment using big data analytics
• Review some compliance uses cases that have been addressed using big iron to big data analytics
Aon Retail & Wholesale Inperspective Nov 2016Graeme Cross
A rapidly shifting social, business, political and economic environment is placing UK retailers on continuous watch as they adapt and react to new threats and challenges.
Historic risk management norms like crime and security are giving way to external threats in the registers of modern companies; but many of these are intangible such as protecting brand equity and are often considered very hard to measure or mitigate.
Meanwhile the increasing influence of technology affects almost every corner of the industry from distribution and the way shoppers interact with a brand; to the supply chain and its continuing search for peak efficiency.
As a result, technology, rather than store networks or stock, is becoming one of the single greatest assets and vulnerabilities identified by the industry’s risk management community.
Securing the C-Suite: Cybersecurity Perspectives from the BoardroomIBM Security
View on-demand: http://bit.ly/1OLCGgd
Cybersecurity incidents have significant impact beyond the IT organization, representing a significant risk to ongoing business continuity and reputation, and requiring heightened engagement across the entire executive team. Common wisdom is that security leaders need to speak in ways the business will understand, but what does that really mean? And how does the business side of an organization view security? To answer these questions, IBM conducted a survey of over 700 C-Suite executives - excluding the CISO - from 28 countries, across 18 industries - to understand any patterns, as well as any differing or aligning attitudes on cybersecurity. 60 percent of respondents are located in mature markets and 40 percent from emerging markets. Participants spanned traditional C-Suite roles, from CEOs and Board members to CFOs, Chief Risk Officers, CMOs, COOs, Human Resource executives, Chief Compliance Officers and Legal Counsel.
View this webinar to hear Diana Kelley, Executive Security Advisor in IBM Security, and Carl Nordman, Functional Research Lead for CFO and Cybersecurity in the IBM Institute for Business Value, discuss findings from the 2015 C-Suite Cybersecurity Study "Securing the C-Suite - Cybersecurity Perspectives from the Boardroom and C-Suite."
This webinar will cover an overview of the study findings, including:
C-Suite views of the risks and actors - Is the C-Suite view aligned with security reality?
IT and business alignment / collaboration- Who's engaged and who's not?
The tone from the top on external collaboration and sharing of incident information
Characteristics of more "Cyber-Secure" companies based on C-Suite responses to what their organization has accomplished
State of Security Operations 2016 report of capabilities and maturity of cybe...at MicroFocus Italy ❖✔
As businesses continue to adopt new cloud and mobile functionality rapidly, we find the
edges of the network even more blurred, and our definitions of data ownership and breach
responsibility continue to evolve. Staffing and training continue to be the foremost challenge
of the modern SOC. This is paving the way to hybrid staffing models and hybrid infrastructures
that require less in-house expertise. As a result, highly skilled security team members can then
be utilized for a more specialized hunt and analytics-focused work.
There is no question this year has been both an exciting and challenging time to be in the field
of cyber security. On one hand, it is disheartening to see the continued decline in the maturity
and effectiveness of security operations, while, on the other, I know that we are in the middle
of an exciting and transformative change in our field. You can feel it. We must go where the
data leads us, and we believe that is to widen our definition of security operations to leverage
analytics, data science, Big Data, and shared intelligence to become more effective in protecting
today’s digital enterprise.
How close is your organization to being breached | Safe SecurityRahul Tyagi
Traditional methods are certainly limited in
their capabilities and this is easily proven by
the multitude of breaches businesses were a
victim of, across the globe. The 2020 Q3 Data
Breach QuickView Report revealed that the
number of records exposed in 2020 has
increased to 36 billion globally. The report
stated that there were 2,953 publicly
reported breaches in the first three quarters
of 2020 itself! 2020 is already named the
“worst year on record” by the end of Q2 in
terms of the total number of records
exposed. With the growing sophistication of
cyber-attacks and global damages related
to cybercrime reaching $6 trillion by 2021, we
need a solution that simplifies
cybersecurity.
To know more about breach probability visit : www.safe.security
A surety bond is a financial instrument through which an insurance company guarantees the successful performance of an Aon
client to a third party, known as a beneficiary or employer. It is a written agreement that provides compensation in the event
that specified obligations are not performed within a stated period.
With an ever-changing political scene and limited time left to conclude the negotiations for the United Kingdom’s (UK) exit from the European Union (EU), attention is now beginning to turn to the potential consequences of Brexit. This paper discusses the issues that insurers face and considers the interplay between insurers’ contractual obligation to continue to service policies (including paying claims) versus the practical impact that local regulation might have on their ability to do so.
IFRS Report - Important upcoming accounting changes Graeme Cross
The new IFRS 9 rules effective January 2018, and equivalent US GAAP standards (ASU 2016-13) effective in 2019, are aimed at
increasing the accuracy and transparency of how credit risk is represented on a company’s Balance Sheet and P&L. Both new
standards include requirements around the use of both historic as well as forward looking credit information in order to calculate
the provisions for credit losses (Expected Credit Losses).
Aon’s cyber capabilities can support organisations in embracing
a risk based approach. This facilitates the deployment of a
more effective cyber insurance strategy to help optimise the
total cost of risk associated with cyber exposures
Reducing an organisation’s property total cost of risk
(TCOR) is fundamental to its operational resiliency and
financial bottom line. Aon Property Laser is a unique
property and business interruption risk management
methodology that incorporates leading-edge diagnostic
and analytical tools to quantify risk exposure. By
identifying and analysing key property performance
indicators, Aon Property Laser helps organisations
to improve their risk profile, while also making the
insurance policy work more effectively should a loss
occur. Our property experts benchmark pre-loss and
post-loss risk management practices, activities and
results, to help assess and optimise an organisation’s
property risk profile.
Many businesses and governments have been reporting on environmental and climate data for over 15 years now, but the way they do is set to change. Following the UN’s Paris
Agreement to address climate risk by cutting greenhouse gas emissions, financial regulators are increasingly concerned about the systemic risks that climate change poses to the financial
system. After the 2008 financial crisis, regulators do not want any disorderly transitions in the market due to a misallocation of capital
Aon has developed a proprietary diagnostic tool to help risk leaders quickly assess their organization’s global supply chain exposures across a variety of key marketplace supply chain indicators.
In the complex and dynamic global risk environment, risk managers play an increasingly vital role in helping their organizations understand, prioritize and manage critical exposures affecting their operations and supply chains.
Today, along with catastrophic property risks, expanding cyber threats, terrorism, supplier insolvency, product integrity and reputational issues, businesses relying on global supply chains must navigate widening geopolitical challenges brought by rising nationalism.
As business leaders, planning, finance and operations executives strive to anticipate how these developments might affect their cross-border trade relationships, effective and forward-looking supply chain risk management is critical to sound decision-making. Aon’s Supply Chain Diagnostic helps clients flag supply chain vulnerabilities and improve resiliency.
Global supply chain management brochureGraeme Cross
Aon’s Approach to supply chain management recognizes the wide spectrum of risks that can negatively impact our clients’ business operations, some of which are common to all industries and others very specific to a particular segment. We bring efficiency to the process by triaging each client’s specific supply chain needs, and deploying a hand-picked team of specialists that can develop industry specific solutions ranging from risk identification and quantification to tailored risk financing programs and claim resolution strategies.
The Aon Global Client Network is the backbone of Aon Risk Solutions’ international network, connecting clients and colleagues with expertise, counsel and resources available in over 120 countries in which Aon Risk Solutions is represented. Aon’s network is the largest majority owned network, unsurpassed in geographic breadth and depth of talent.
On June 27, 2017, a widespread WannaCry ransomware variant referred to by a number of names, including GoldenEye, Petya, NotPetya, and ExPetr, began impacting computer systems around the world. Similar to the recent WannaCry ransomware attack, victims are being asked to pay a ransom of $300 in bitcoin.
Are you a risk or finance leader of an organization with exposures across multiple territories?
Take our Global Optimization Index survey. The 75 questions are
directly related to international risk management and will help you to measure your company’s risk management practices as compared to Aon’s best practice standards and find areas of focus to enhance the performance of your multinational risk management approach.
Aon’s continually growing directory of intellectual capital provides the latest insights into innovative ways of identifying, quantifying, and managing a wide range of current and emerging risks.
Aon’s guide to Political Risk, Terrorism & Political Violence
The Political Risk Map primarily focuses on economic and fiscal risks, specifically in emerging economies, while the Terrorism and Political Violence Map consider issues such as civil commotion and war and has a global focus.
While comparisons are possible across the two maps and certain countries will be affected by both sets of perils, these are two specific risks with accompanying sub-sets of perils that help to establish ratings for each country.
Together these maps are helping our clients to better understand the challenges facing them when operating in diverse, international geographies. We would welcome the opportunity to discuss these challenges in more detail with you and explain how Aon’s Crisis Management teams can help identify, manage and mitigate risks to help insulate your people, assets and operations wherever they are located in the world.
Environmental insurance market status Q1 2017Graeme Cross
This paper provides an update on the status of the marketplace for environmental insurance as of early 2017. It starts with a look at the environmental risks associated with a number of common industrial, commercial and institutional activities, and then considers various aspects of the marketplace, with a look at the insurance companies that sell environmental coverage, a review of who buys it and what is new in the market for this year.
Global Cyber Market Overview June 2017Graeme Cross
Highly publicized attacks on blue chip companies, announcements of alliances formed between insurers, reports of partnerships established with cyber security firms and hiring of renowned experts have all contributed to making cyber one of the hottest topics in the insurance industry. However, behind the hype of the media and the marketing battles fought by insurers and brokers to position themselves as leaders in the market, there is the reality of a genuine opportunity. In this paper, we explore how the cyber insurance market has evolved in recent year
Aon GDPR prepare and protect solution placematGraeme Cross
The EU’s General Data Protection
Regulation (GDPR) comes into effect on
the 25th of May 2018, enforcing strict
new measures for any organisation
globally handling the personal data
of EU individuals.
Organisations have steps to take to
comply with GDPR and meet the
ongoing data privacy rights of their
clients and employees.
Failure to comply may result in enforcement
action, including fines of up to €20 million
or 4% of your organisation’s annual
worldwide revenue, whichever is greater.
“The European Union data privacy landscape is about to undergo dramatic change, with lasting enterprise wide implications for the way that organisations handle, protect and use the personal data of EU individuals.
Organisations of all sizes, across all industries, and geographies that process personal data of EU residents need to take steps now to comply with the new EU General Data Protection Regulation by 2018, to satisfy management fiduciary duties
and avoid potentially costly penalties.”
UiPath Test Automation using UiPath Test Suite series, part 5DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 5. In this session, we will cover CI/CD with devops.
Topics covered:
CI/CD with in UiPath
End-to-end overview of CI/CD pipeline with Azure devops
Speaker:
Lyndsey Byblow, Test Suite Sales Engineer @ UiPath, Inc.
Why You Should Replace Windows 11 with Nitrux Linux 3.5.0 for enhanced perfor...SOFTTECHHUB
The choice of an operating system plays a pivotal role in shaping our computing experience. For decades, Microsoft's Windows has dominated the market, offering a familiar and widely adopted platform for personal and professional use. However, as technological advancements continue to push the boundaries of innovation, alternative operating systems have emerged, challenging the status quo and offering users a fresh perspective on computing.
One such alternative that has garnered significant attention and acclaim is Nitrux Linux 3.5.0, a sleek, powerful, and user-friendly Linux distribution that promises to redefine the way we interact with our devices. With its focus on performance, security, and customization, Nitrux Linux presents a compelling case for those seeking to break free from the constraints of proprietary software and embrace the freedom and flexibility of open-source computing.
Communications Mining Series - Zero to Hero - Session 1DianaGray10
This session provides introduction to UiPath Communication Mining, importance and platform overview. You will acquire a good understand of the phases in Communication Mining as we go over the platform with you. Topics covered:
• Communication Mining Overview
• Why is it important?
• How can it help today’s business and the benefits
• Phases in Communication Mining
• Demo on Platform overview
• Q/A
In his public lecture, Christian Timmerer provides insights into the fascinating history of video streaming, starting from its humble beginnings before YouTube to the groundbreaking technologies that now dominate platforms like Netflix and ORF ON. Timmerer also presents provocative contributions of his own that have significantly influenced the industry. He concludes by looking at future challenges and invites the audience to join in a discussion.
Goodbye Windows 11: Make Way for Nitrux Linux 3.5.0!SOFTTECHHUB
As the digital landscape continually evolves, operating systems play a critical role in shaping user experiences and productivity. The launch of Nitrux Linux 3.5.0 marks a significant milestone, offering a robust alternative to traditional systems such as Windows 11. This article delves into the essence of Nitrux Linux 3.5.0, exploring its unique features, advantages, and how it stands as a compelling choice for both casual users and tech enthusiasts.
Unlocking Productivity: Leveraging the Potential of Copilot in Microsoft 365, a presentation by Christoforos Vlachos, Senior Solutions Manager – Modern Workplace, Uni Systems
A tale of scale & speed: How the US Navy is enabling software delivery from l...sonjaschweigert1
Rapid and secure feature delivery is a goal across every application team and every branch of the DoD. The Navy’s DevSecOps platform, Party Barge, has achieved:
- Reduction in onboarding time from 5 weeks to 1 day
- Improved developer experience and productivity through actionable findings and reduction of false positives
- Maintenance of superior security standards and inherent policy enforcement with Authorization to Operate (ATO)
Development teams can ship efficiently and ensure applications are cyber ready for Navy Authorizing Officials (AOs). In this webinar, Sigma Defense and Anchore will give attendees a look behind the scenes and demo secure pipeline automation and security artifacts that speed up application ATO and time to production.
We will cover:
- How to remove silos in DevSecOps
- How to build efficient development pipeline roles and component templates
- How to deliver security artifacts that matter for ATO’s (SBOMs, vulnerability reports, and policy evidence)
- How to streamline operations with automated policy checks on container images
Maruthi Prithivirajan, Head of ASEAN & IN Solution Architecture, Neo4j
Get an inside look at the latest Neo4j innovations that enable relationship-driven intelligence at scale. Learn more about the newest cloud integrations and product enhancements that make Neo4j an essential choice for developers building apps with interconnected data and generative AI.
Alt. GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using ...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
DevOps and Testing slides at DASA ConnectKari Kakkonen
My and Rik Marselis slides at 30.5.2024 DASA Connect conference. We discuss about what is testing, then what is agile testing and finally what is Testing in DevOps. Finally we had lovely workshop with the participants trying to find out different ways to think about quality and testing in different parts of the DevOps infinity loop.
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Ponemon 2015 EMEA Cyber Impact Report
1. Research independently conducted by Ponemon Institute LLC
and commissioned by Aon Risk Solutions
Published: June 2015
2015 EMEA
Cyber Impact Report
The increasing cyber threat – what is the true cost to business?
3. In an era of global connectivity, online information and systems are playing an increasingly
central role in business. According to data from Cisco, worldwide internet-connected devices
will reach 50 billion by 2020, and with 15 billion devices already in 2015 it is apparent
that an increasing numbers of companies, systems and information are working online.
As the tech revolution gathers pace however, so
too do the associated risks. In 2014 Sony Pictures
suffered a high profile and damaging hack, and
early in 2015 the co-ordinated Carbanak attack
on banks worldwide was estimated to have
totalled up to USD1 billion in stolen funds. Further
evidence of the growth in cyber risk is the +50%
Compound Annual Growth Rate (CAGR) of Aon
cyber insurance cover in the five years to 2014.
The financial consequences of a cyber breach
can be wide-ranging, including business
interruption, forensic IT costs, supply chain
disruption and intellectual property theft.
Attacks have the potential to affect virtually
every industry, from manufacturing, through
to retail, life sciences, and healthcare - the
issue is not confined to financial institutions
or global brand management companies.
It is against this backdrop that, in March 2015,
Aon commissioned the Ponemon Institute,
a leading research firm on privacy, data
protection and information security, to conduct a
groundbreaking global cyber risk study (including
almost 550 interviews with Europe, Middle
East and Africa (EMEA) business leaders).
We sought to understand how organisations qualify
and quantify the financial statement exposures
of their intangible (cyber) assets, relative to
tangible assets like property, plant and equipment.
The research found that in EMEA, only 11% of
potential loss to intangible assets was covered
by insurance, compared with 49% for tangible
assets. This is despite almost four in ten companies
having experienced a cyber breach in the past 24
months. This bias means information and system
assets are too often exposed without appropriate
coverage, which has significant implications for
increasingly connected global businesses.
Our intention is that this cyber risk study will assist
risk managers, finance, IT and legal in taking a
broader look at their organisation’s overall risk
profile and ensuring sufficient insurance coverage
is in place for the relative financial impact of all
risks – not only the traditional, tangible ones.
Bill Peck
CCO EMEA,
Aon Risk Solutions
Karl Hennessy
CBO EMEA & CEO
Global Broking Centre,
Aon Risk Solutions
Aon
Foreword
Research independently conducted by Ponemon Institute LLC and commissioned by Aon Risk Solutions 3
4. This research was commissioned
by Aon and independently
conducted by Ponemon Institute
LLC. This report focuses on the
research findings for EMEA only,
based on the perceptions of 545
EMEA business leaders, largely
in finance, risk, information
security and compliance. Further
information on the research
methodology is provided on
page 8.
Tangible versus intangible assets – a story of unequal risk
The survey reveals that the perceived value of both tangible and intangible assets is
relatively similar, with just 3% difference. On average, the total value of tangible assets
reported was USD872 million, compared to USD845 million for
intangible assets.
When asked to estimate an average figure for the loss or destruction of all their intangible
assets (or probable maximum loss / PML), again the estimation was similar (USD638
million for intangible assets, compared to USD615 million for their tangible assets).
In contrast, both the impact of business disruption to intangible assets and the likelihood
of an intangible asset or data breach occurring is seen as significantly greater than for
tangible assets. The estimated impact of a business interruption to intangible assets is
USD168 million, 63% higher than USD103 million for tangible assets; while the likelihood
of experiencing a loss is 4.7%, compared to 1.5% for tangible assets (for losses totalling
no more than 50% of PML over the next 12 months).
Aon Expert Perspective
“The preparedness and protection
mechanisms of companies against a
tangible assets disruption is greater;
there are more contingency/
emergency plans in place as risks
are better known and understood,
while tangible assets can also be
more easily replaced. Conversely,
disruption against intangible assets
such as know-how, and intellectual
property which, once lost, are lost
forever, is harder to plan for and
protect against.”
Claudia Beatriz Gomez
Financial Lines Director,
Aon Risk Solutions, Spain
Incident impact and loss likelihood
Tangible assets Intangible assets
Impact: estimated loss to assets
(USD) following business disruption
Likelihood: of loss totalling ≤50%
of PML in next 12 months
4.7%
+313%
Difference between tangible
and intangible assets
1.5%
$168m
+163%
$103m
Ponemon Institute
Cyber Impact Research
4 2015 EMEA Cyber Impact Report
5. Data and security breaches – more common than you think
While some risk professionals may feel a cyber incident is unlikely in their business or
industry, the reality is quite different, with the survey revealing that almost four in ten
(38%) have experienced a material or significantly disruptive loss relating to a data
breach or security exploit (vulnerability) in the past 24 months. The average financial
impact of these EMEA incidents was USD1.1 million, with the most common involving
a cyber attack disrupting business and IT operations (84%).
Cyber is clearly on the corporate risk agenda for four in ten businesses, with 38%
placing cyber as a top five business risk. Further, just under half (46%) expect cyber
risk exposures to increase in the next two years, while 40% think the level of risk will
stay the same.
Data and security breaches
Not experienced a breach Experienced a breach*
9%
15%
16%
16%
21%
84%
Cyber attack that caused disruption
to business and IT operations
System or business process failures that
caused disruption to business operations
Negligence or mistakes that resulted in the
loss of business confidential information
Cyber attack that resulted in the misuse or
theft of business confidential information
Cyber attack that resulted in the theft
of business confidential information,
thus requiring notification to victims
Other
62%
38%
*Breach is a material or significantly disruptive security exploit or data
breach one or more times in past 24 months
Aon Expert Perspective
“Cyber incidents have complex
implications and are becoming
increasingly common. For example,
in late 2014 a European steel mill
suffered huge damage resulting from
hackers gaining entry to the plant’s
network and causing an unscheduled
furnace shutdown. Here we saw an
intangible asset incident having very
real implications on physical assets
and business interruption. As mobile
devices, cloud computing, data and
analytics and ‘the internet of things’
continue to grow and become even
more integral to business operations,
the opportunities for cyber incidents
increase at a similar pace.”
Mark Buningh
Cyber Risk Practice Leader,
Aon Risk Solutions, Netherlands
Research independently conducted by Ponemon Institute LLC and commissioned by Aon Risk Solutions 5
6. Expect to be included
External attacks by cyber criminals
Malicious or criminal insiders
Forensic and investigative costs
3rd party liability
Legal defence costs
Replacement of lost or damaged equipment
Access to cyber security forensic experts
Access to legal and regulatory experts
Assistance in remediation of the incident
Don’t expect to be included
Human error, mistakes and negligence
Incidents affecting business partners, vendors or other 3rd
parties that have access to your company’s information assets
System or business process failures
Brand damages
Revenue losses
Communications costs to regulators
Regulatory penalties and fines
Notification costs to data breach victims
Identity protection for breach victims
Credit monitoring for breach victims
Assistance in the notification of breach victims
Advanced warnings about ongoing threats
Access to specialised technology and tools
Aon Expert Perspective
“Some organisations think cyber
insurance will have too many
exclusions, or is too new, unproven
or specialist. There is also a
perception that quotations require a
lot of time, so these perceptions are
rarely challenged and organisations
continue to rely on self insurance.
However, cyber cover has been
available for more than 15 years and
getting an indication of price and
exactly what is covered is relatively
easy these days. Further, many
aspects that EMEA organisations
don’t expect to be covered (e.g.
human error, third party incidents,
system failures and notification
costs to victims) are often included
in cyber insurance policies, or can
certainly be negotiated with insurers.
And with a tangible proposal that
can be discussed at board level,
organisations can make more
deliberate and informed decisions
about cyber insurance, rather than
leaving it ‘out of sight, out of mind’.”
Jonathan Case
Chief Broking Officer,
Aon Risk Solutions, Finland
Management versus mitigation – the role and take-up of insurance
Despite this growing awareness of cyber risk, there is a huge insurance gap. When
comparing intangible assets to tangible assets, EMEA business leaders indicated that
intangible assets are 38% more exposed than tangible assets on a relative value to
insurance protection basis.
Nearly half the potential loss (49%) to tangible assets is covered by insurance, but
only 11% for intangible assets. In contrast, self insurance – retaining the risk on their
own balance sheets rather than buying an insurance policy – is far more common for
intangible assets.
Percentage of assets covered by insurance
Potential loss self insured Potential loss covered by insurance
Intangible assets Tangible assets
59%
11%
26%
49%
Perceptions of cyber insurance in EMEA
Respondents considered what incidents, coverages and
services are included in cyber insurance
• “Expect to be included” is aspects
of cyber cover 70% or more
agree with
• “Don’t expect to be included”
is aspects of cyber cover 30%
or less agree with
Focusing specifically on cyber insurance cover, 79% of businesses surveyed don’t
currently have cyber insurance in place. And on average, there seems to be a stronger
perception of exclusions than inclusions. Less than 3 in 10 EMEA businesses surveyed
believe incidents involving human error or affecting third parties are covered, nor the
costs to notify data breach victims. In contrast, most perceive external cyber criminal and
internal malicious attacks would be covered.
ServicesCoveragesIncidents
ServicesCoveragesIncidents
6 2015 EMEA Cyber Impact Report
7. Financial statment disclosure of material losses
Tangible assets Intangible assets
No material loss disclosure
37%
9%
An industry challenge – limited experience with an
evolving risk
Reflecting the relatively low take-up of cyber insurance, there is also a clear lack of formal
risk assessment around cyber risk with 44% determining their business’s level of cyber risk
based on intuition, informal internal assessment, or without any assessment at all.
The research also revealed a low level of awareness and understanding of the
consequences of cyber risk. For example, only 23% of respondents said they were fully
aware of the legal and economic consequences that could result from a data breach or
security exploit in other countries in which their business operates.
In addition, 37% of businesses would not disclose a material loss to their intangible
assets in their financial statements, whereas only 9% would not disclose a material loss to
tangible assets. This under reporting for intangible assets (driven by different regulatory
requirements) results in the frequency and magnitude of cyber risk being under-
represented in the public realm.
Aon Expert Perspective
“Almost all organisations recognise
cyber as a growing concern, but
many still perceive it to be a ‘new’
or unfamiliar risk. Depending on
an organisation’s risk maturity,
some don’t have the experience
to both assess and quantify the
risk effectively, nor risk manage it
within their organisations. But once
the risks are better understood
and valued, then organisations
can intelligently consider cyber
solutions, risk management
procedures and what an insurance
policy can bring to the table.”
Jonathan Upshall
Cyber Insurance Broking Director,
London Global Broking Centre,
Aon Risk Solutions, UK
Research independently conducted by Ponemon Institute LLC and commissioned by Aon Risk Solutions 7
8. Employees (worldwide)
27%
20%
20%
15%
8%10%
Less than 500
500 to 1,000
1,001 to 5,000
5,001 to 25,000
25,001 to 75,000
More than 75,000
Industry
10%
10%
20%
9%
6%
6%
6%
7%
6%
4%
Financial services
Health &
pharmaceuticals
Retail
Industrial
Services
Consumer
products
Public sector
Technology &
software
Education &
research
Energy &
utilities
Country
18%
22%
12%9%
8%
7%
5%
4%
4%
UK
Germany
France
Spain
Italy
Netherlands
Saudi Arabia
Russian Fed
Turkey
Less than 4% not annotated in chart
Less than 4% not annotated in chart
Methodology
This global cyber impact research
was independently conducted
by Ponemon Institute LLC, and
commissioned by Aon. The
research was conducted in
March 2015 and included 2,243
companies in 37 countries across
Europe, Middle East, Africa
(EMEA), North America, Asia,
Pacific, Japan and Latin America.
This report focuses on the research
findings for EMEA only, based on
surveys with 545 companies in
15 countries throughout EMEA.
The profile of the survey sample
is summarised in these charts.
8 2015 EMEA Cyber Impact Report
9. Key definitions
In the context of this research:
• Cyber risk means any risk of financial loss, disruption or damage to the reputation
of an organisation from some sort of failure of its information technology systems.
• Intangible (cyber) assets includes customer records, employee records,
financial reports, analytical data, source code, models methods and other
intellectual properties.
• Tangible (property, plant and equipment) assets includes all a company’s
fixed assets plus supervisory control and data acquisition systems, and industrial
control systems.
• Probable maximum loss (PML) relates to the maximum loss a business can suffer
following an incident.
• For tangible assets this assumes the normal functioning of passive protective
features – such as firewalls, non-flammable materials, proper functioning of active
suppression systems, fire sprinklers, raised flooring and more.
• For intangible assets this assumes the normal functioning of passive protective
cybersecurity features – such as perimeter controls, data loss prevention tools, data
encryption, identity and access management systems and more.
• Total Value is an estimate of the value based on full replacement cost
(not historic cost).
• Average financial impact of security exploits or data breaches includes all costs,
including out-of-pocket expenditures such as consultant and legal fees, indirect
business costs such as productivity losses, diminished revenues, legal actions,
customer turnover and reputation damages.
Research independently conducted by Ponemon Institute LLC and commissioned by Aon Risk Solutions 9
10. The Ponemon Institute 2015 Cyber Impact Report research has revealed a troublingly
low level of understanding and insurance risk transfer for intangible assets,
particularly when contrasted with EMEA businesses’ approach to tangible assets.
Specific highlights from the Ponemon Institute 2015
Cyber Risk Study research include:
• Information technology assets are 38%
more exposed than property assets, with 11%
of potential loss to intangible assets covered
by insurance, compared with 49% for
tangible assets.
• This is despite the fact that estimated value and
maximum loss is on a par for intangible and
tangible assets (e.g. probable maximum loss of
USD638 million and USD615 million respectively).
• Almost four in ten (38%) of businesses surveyed
experienced a material or significantly disruptive
loss relating to a security or data breach in the past
24 months. The average financial impact of these
incidents was USD1.1 million.
• 37% of businesses would not disclose a material
loss to their intangible assets in their financial
statements, whereas only 9% would not disclose
a material loss to tangible assets.
• Four in ten (44%) determine their businesses’ level
of cyber risk based on intuition, informal internal
assessment, or without any assessment at all.
Given the limited level of cyber risk assessment
and cyber incident disclosure, it is unsurprising
that cyber risks often remain misunderstood or
unquantified. We would recommend companies take
a proactive approach to assessing their cyber risk
exposures and consider more closely the significance
and business disruption impact of intangible asset
incidents. Further, as cyber cuts across many areas
of an organisation, cross functional engagement is
key, including risk/compliance, IT, finance and legal.
Aon
Conclusion
10 2015 EMEA Cyber Impact Report
11. Mark Buningh
Cyber Risk Practice Leader
Netherlands
+31 (0)6 5134 6614
mark.buningh@aon.nl
Jonathan Case
Chief Broking Officer
Finland
+358 201 266 281
jonathan.case@aon.fi
Claudia Beatriz Gomez
Financial Lines Director
Spain
+34 91 340 5645
claudiabeatriz.gomez@aon.es
Jonathan Upshall
Cyber Insurance Broking Director
United Kingdom
+44 (0)20 7086 1897
jonathan.upshall@aon.co.uk
Contacts
Research independently conducted by Ponemon Institute LLC and commissioned by Aon Risk Solutions 11 Research independently conducted by Ponemon Institute LLC and commissioned by Aon Risk Solutions 11