Cyber Security Stakeholders: Who is responsible for Cyber Risk?
As organisations continue to become more reliant on technology, opportunity for cyber risk is constantly evolving, often becoming more sophisticated and complex. Not to mention, motivations for cyber attacks are wide ranging, and threat actors are varied, ultimately challenging the ability to plan defensive strategies against these threats.
This then raises an important question – who are the stakeholders responsible for cyber security? With the complexity and notability of many cybersecurity threats plaguing our organisations, many believe that cyber risks are no longer solely a concern for IT security professions, but responsibility also lies at the board level.
In fact, within Australia, director’s duties are stipulated in the Corporations Act 2001 whereby it states four main duties and responsibilities. These to act with care and diligence and good faith, and to not improperly use their position or company information for personal gain. With this in mind, as the threats from cyber security risk grows, a significant challenge is facing company boards, placing an increasing pressure to be held accountable to protect information assets and business operation from cyber security failures.
In our second instalment of our Cyber Risk Masterclass, titled ‘Addressing the governance challenge around Cyber Security’ we explore this notion in detail, by examining:
- Board Responsibility and Governance
- Class Action Environment
- Government; and
- Insurance Market Cyber Solutions
Various experts within the professional and cyber security space lead this insightful panel discussion, including:
- Kristine Salgado, Managing Principal, Cyber, Pacific, Marsh
- Craig Claughton, Managing Director and Head of Financial and Professional Services, Pacific - Marsh
- Lisa Fitzgerald, Partner, Lander and Rodgers
- Alistair MacGibbon, Chief Strategy Office – Cyber CX
To learn more about stakeholders in cyber security and how boards can govern cyber security risk, watch the informative replay below. For additional information, please contact Marsh’s leading cyber security consulting team, here.
The information contained in this webinar is based on sources we believe reliable, but we do not guarantee its accuracy. This information provides only a general overview of subjects covered, is not intended to be taken as advice regarding any individual situation or as legal, tax, or accounting advice and should not be relied upon as such. Recipients of this webinar should consult their own insurance, legal, and other advisors regarding specific coverage and other issues.
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