Cyber Risk Management and the Value of Cyber Insurance

The technology revolution has created unprecedented developments in the way that business is transacted, how information is obtained, how we communicate with each other and how data is sourced and stored. The reality of these developments has also lead to unparalleled increases in the ability of criminals to act in a digital environment rather than in the physical world and cyber crime has never been more financially rewarding. Cyber risk and cyber exposure exists for every business that uses technology and connects to any form of information systems and networks. Size of business, industry factors and reliance on technology for critical operations can increase cyber risk vulnerability, but no business is immune.  Managers are faced with the challenge of protecting against cyber risk and implementing strategies and procedures to safeguard against the potential loss and damage suffered in a cyber event. Cyber risk management is a holistic approach to evaluating […]