The Rising Strategic Risks of Cyber Attacks

There’s an interesting moment in a report on the current state of cyber security leadership from International Business Machines Corp (IBM).
For those who haven’t seen it yet, the report identifies growing concerns over cyber security with almost 60 percent of Chief Information Security Officers (CISOs) saying the sophistication of attackers is outstripping the sophistication of their organization’s defenses.
But as security leaders and their organizations attempt to fight what many feel is a losing battle against hackers and other cyber criminals, there is growing awareness that greater collaboration is necessary.
As IBM puts it: “Protection through isolation is less and less realistic in today’s world.”
Consider this: some 62 percent of security leaders strongly agreed that the risk level to their organization was increasing due to the number of interactions and connections with customers, suppliers and partners.
Despite this widespread interconnectivity that drives modern business, security leaders themselves aren’t sufficiently collaborative, IBM says.
Just 42 percent of organizations that IBM interviewed are members of a formal industry-related security group. However, 86 percent think those groups will become more necessary in the next three to five years.
Instead of focusing on just their own organizations, security leaders need to take a “secure the ecosystem” approach, IBM concludes.
This joint presentation Robert Hartwig, president of the Insurance Information Institute, and representatives of PriceWaterhouseCoopers and attorneys from Lewis Brisbois Bisgaard & Smith addressed important issues relating to cyberbreaches in today’s corporate environment. Hartwig’s presentation focused on insurance strategies, including a discussion of the growing cyber exposure, the typical structure of a cyberinsurance policy and a look at the marketplace for cyber policies. 
Other presenters focused on corporate governance and compliance issues; and developing incident response plans after an incident.
Please click on the file name below to view the presentations. Once open, you can choose “file” from your menu and then save the PowerPoint presentation to your disk. The presentation also is available in Adobe Acrobat format. The Adobe Acrobat file is smaller and faster to download. However, you do need the appropriate software to view.
You can download Adobe Acrobat Reader, free of charge, from the Adobe website (http://www.adobe.com/products/acrobat/readstep.html).
Thanks to iii.org.