In this video, from Ace Group, Iain Ainslie explains how Cyber Risk is changing and how it now affects most business.
Iain talks on the disruption, liabilities and the expenses associated with a security breach. He argues that Cyber Risk is no longer just an IT issue, but a top line business risk that needs to be managed at board level.
Computer Security and Cyber Risk are amongst the hottest topics in business today with everyday new reports of data loss and business disruption being reported.
What are the Challenges and opportunities for the Insurance Sector
Traditionally, even the most brutal of wars have their informal truces. The history books regale us with accounts of soldiers in the American Civil War swimming to an island in a river to exchange tobacco and newspapers, or a game of football between British troops and their Boer enemies at the end of the Boer War. But that tradition does not, it appears, apply to today’s cyber war.
Following the reports from the BBC on the challenges facing some energy companies in obtaining cyber insurance CRE helped CRIF get out our message on the need for a more mature and integrated approach to the management and cover of Cyber Risk.
The BBC article stated that "... a number of energy companies had bee refused cover because of inadequacies in their cyber security"