Cyber Threat Landscape 2020 - Understand. Manage. Measure.
As the cyber threat landscape continues to grow more complex for organisation's across all industries, companies are required to continually reassess and revise their cyber risk management strategies. Australian cyber-attack statistics showed that the Australian Cyber Security Centre received one cybercrime report every 10 minutes over the last 12 months. Marsh presents a 6 part masterclass series, which will empower you to better understand, manage and measure your organisation's cyber risks.
This 6 part webinar series is for Risk Managers, CEOs, CFOs, CISOs and Directors. These masterclass sessions will help provide you with practical and data-driven insights to feel confident when implementing cyber security strategies within your organisation.
Marsh’s global cyber leaders look at the cyber threat landscape, sharing the latest insights on global and Pacific trends.
This masterclass will help you understand more about:
- The evolving landscape of cyber threats– Global and Pacific trends;
- Cyber insurance claims activity – the impact of ransomware;
- Insurance market update – how the market is reacting to the significant increase in claims activity in terms of coverage and pricing; and
- Silent Cyber Update – Insurers are now affirming or excluding cyber risks from non-cyber policies. Proposed exclusions may affect coverage, sometimes overreaching to exclude physical risks merely because technology was in the chain of causation.
Cyber risk is a rapidly evolving area that affects governments, corporations and individuals. Data breaches, cyber hacks and disruptions to business operations can lead to significant financial consequences and have long-lasting reputational and economic impacts. Existing risk governance models that have been used to manage physical and financial risks may no longer be effective in addressing and managing cyber risk.
So how do companies effectively address the governance challenge around cyber security and resilience?
This masterclass will explore:
- The growing responsibility of board members in managing cyber risk;
- The role of Government in mobilising companies with tools to protect themselves and whether the introduction of cyber security regulations will help or hinder;
- What can organisations learn from statistics published by the Office of the Information Commissioner to assist in developing their cyber risk management strategies;
- The threat of class actions emanating from cyber events;
- The role of the insurance market in providing an effective risk transfer solution; and
- Cybersecurity best practice – how is this defined when the underlying risk is continually evolving and what are the key components in developing an effective cyber security strategy to manage this risk.
Due to the interconnected nature of our modern business ecosystems, managing cyber security risks can be a complex task when a good portion of that risk lies with a key supplier.
This masterclass will provide:
- A deep-dive into both technological and non-technological supply chains;
- An understanding of the key risks illustrated by real-world examples; and
- Tips on how organisations can better manage their critical supply chain risk.
With both the frequency and severity of cyber claims on the rise, understanding the claims process will greatly assist with minimising the impact a cyber incident may have on your business and provide you with a greater sense of control.
In this practical masterclass, industry experts will walk you through the anatomy of a cyber claim including:
- Immediate first steps when managing a cyber incident;
- Best practice from an Incident Response and Claims Management perspective;
- Organisational and technical actions to contain the incident;
- Privacy, legal and PR issues to consider;
- Steps to facilitate adequate reimbursement of business interruptions costs; and
- Pitfalls to avoid in a cyber claim.
Every business has its own unique exposure to cyber risk, however, getting to grips with your organisation’s particular cyber risk profile is often not a straightforward task.
In this interactive workshop session, we provide practical advice into the steps that organisations can take to get their arms around their cyber exposures from both a quantitative and qualitative perspective. Key topics for this masterclass include:
- Understanding how cyber risk affects your organisation holistically;
- Understanding which metrics matter when analysing the exposure;
- An overview of the techniques available to assist in quantifying cyber risk;
- Factoring cyber risk into key decision making;
- How to put cyber risk into monetary figures – to assist in investment decisions and insurance limit determinations;
- Guidance for talking to the risk management program to the board and other key stakeholders; and
- Key insurance considerations.
Within the current cyber threat landscape, we are seeing more targeted attacks on individual businesses, particularly within critical infrastructure industries as opposed to the scattergun approach for ransomware distribution that used to be popular with threat actors. So what is the driver behind this change? The fact is that individual businesses are more likely to succumb to the demand of ransomware payments, highlighting that as ransomware becomes more sophisticated the more the attackers are driven by high returns.
This masterclass will delve into:
- Common threat actors: how they access and steal data and the business interruption impact on business;
- Insights on the payment of ransoms to state sponsored attackers and OFAC sanctions entities; and
- Discussions on the thought process around the insurance policy, including to pay or not to pay, who makes the decision and what your policy covers you for.
This page contains general information, does not take into account your individual objectives, financial situation or needs. For full details of the terms, conditions and limitations of the covers, refer to the specific policy wordings and/or Product Disclosure Statements available from Marsh Pty Ltd on request. Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) arranges the insurance and is not the insurer.