2017 Information Security and Cyber Risk Management Survey

Advisen and Zurich released a white paper that highlights the results of a survey conducted among risk professionals to get their view of corporate attitudes and strategies around cyber risk and cyber security in general. The 11-page white paper concluded that recent developments warrant a greater need for guidance in developing cyber risk management programs and improving cyber risk policies in general.

Read more at https://www.advisenltd.com/2017/10/25/2017-information-security-cyber-risk-management-survey/

This story is an excerpt of the original. The content originally appeared in Advisen Media White Papers.

Zurich | Advisen Ltd. October 2017. 2017 Information Security and Cyber Risk Management Survey [White Paper].

2016 Information Security and Cyber Risk Management Survey

Advisen wrote a white paper that presents the results of “The Sixth Annual Survey on the Current State of and Trends in Information Security and Cyber Risk Management”. The survey conducted by Advisen and Zurich North America focuses on the current push by businesses to become resilient against information security threats and how the insurance industry plays a vital role.

The free, 13-page paper is sponsored by Zurich.

Read and download the paper @ http://www.advisenltd.com/2016/10/26/2016-information-security-and-cyber-risk-management-survey/

Advisen Ltd. (October 2016). 2016 Information Security and Cyber Risk Management Survey [White Paper]. Retrieved from www.AdvisenLtd.com

Report Predicts Costs up to $6 Trillion Due to Cybercrime by 2021

Dark and costly days lie ahead for the connected world, according to a recent report that estimated potential future costs of cybercrime at up to $6 trillion by 2021.

“Cyberwarfare has crossed from the digital world into our physical realm, and there is a very real potential cybercrime will lead to the loss of human life” said Robert Herjavec, founder and CEO of Herjavec Group, an information security advisory firm that sponsored “Hackerpocalypse: A Cybercrime Revelation” along with the firm Cybersecurity Ventures.

Read more at http://www.advisenltd.com/2016/09/14/report-predicts-costs-up-to-6-trillion-due-to-cybercrime-by-2021/

Erin Ayers, Report predicts costs up to $6 trillion due to cybercrime by 2021 (September 14, 2016), available with subscription at Advisen Cyber Front Page News.

Global Spending on Information Security Set to Rise to $81.6B

Researchers at Gartner expect worldwide spending on information security products and services to grow another 7.9 percent to $81.6 billion this year, with organizations looking not only to prevent cyber intrusions but also find ways to prevent data loss and recover quickly.

“Organizations are increasingly focusing on detection and response, because taking a preventive approach has not been successful in blocking malicious attacks,” said Elizabeth Kim, senior research analyst at Gartner. “We strongly advise businesses to balance their spending to include both.”

Read more at http://www.advisenltd.com/2016/08/16/global-spending-on-information-security-set-to-rise-to-81-6b/

Erin Ayers, “Global spending on information security set to rise to $81.6B (August 16, 2016), available with subscription at Advisen Cyber Front Page News.

Bridging the Insurance/InfoSec Gap: The SANS 2016 Cyber Insurance Survey

Cyber security insurance has become increasingly popular as significant data breaches have become more common. Unlike other information security (InfoSec) preparations, however, the purpose of cyber insurance is not defense; rather, it is the transfer of financial risk to a third party. The field is young, dynamic and multifaceted. InfoSec professionals, underwriters and brokers each have different roles in negotiating or implementing policies, as well as different metrics with which to gauge the value of a cyber insurance contract.

In a recent report published by SANS, it was highlighted that conceptual gaps often make it difficult for members of the cyber security and cyber insurance communities to find a common basis on which to develop reasonable standards of security and insurability.

Read more and download the white paper at http://www.advisenltd.com/2016/06/21/bridging-the-insuranceinfosec-gap-the-sans-2016-cyber-insurance-survey/

"Bridging the Insurance/InfoSec Gap: The SANS 2016 Cyber Insurance Survey" Advisen Ltd. 2016 21 Jun. SANS | PivotPoint Analytics. 2016.

Unlocking the Value in Cyber Data: Getting a Clearer View of Risk

January 2016

Advisen wrote a white paper that discusses the importance of evaluating the cyber risk of an organization, as well as underwriting and pricing cyber liability coverage. It looks at the importance of combining technology and insurance to improve chances that an organization can more quickly recover from a cyber attack. The free, 8-page paper is sponsored by PivotPoint.

Mitigating Cybersecurity Risks 

Cyber risks have become a major threat that many organizations are wondering whether or not their cybersecurity investments are properly deployed and their insurance programs are as effective as possible.

This content originally appeared in Advisen Ltd. To read the paper, you must download the Unlocking the Value in Cyber Data: Getting a Clearer View of Risk Report.

US House Committee Seeks Advice From Private Sector on Battling Cyber Threats

Federal lawmakers last week sought to learn from the private sector how to better deal with cyber attacks during a hearing of a subcommittee of the US House of Representatives Committee on Science, Space, and Technology.

The key, according to those testifying, appears to be effort, commitment, and progress on improving, rather than good intentions.

Read more at http://www.advisenltd.com/2016/01/12/us-house-committee-seeks-advice-from-private-sector-on-battling-cyber-threats/

Ayers, Erin. “US House committee seeks advice from private sector on battling cyber threats.” Advisen. Advisen Store, 12 January 2016. Web. 13 January 2016.

Wyndham Agrees to Settle Landmark Legal Battle with FTC over Data Breaches

Wyndham Worldwide Corp. will set up a wide-ranging information security program to protect cardholder data as part of a settlement reached with the US Federal Trade Commission to end a case, filed in 2012, that effectively clarified the commission’s authority to regulate data security practices.

Wyndham is not required to pay any monetary fine but its obligations under the settlement will last for 20 years. The settlement does not apply to any other categories of personally identifiable information

“We chose to defend against this litigation based on our strong belief that we have had reasonable data security in place, and that the FTC’s position could have had a negative impact on the franchise business model,” said Wyndham, in a statement. “This settlement resolves these issues, and sets a standard for what the government considers reasonable data security of payment card information.

Read more at http://www.advisenltd.com/2015/12/10/wyndham-agrees-to-settle-landmark-legal-battle-with-ftc-over-data-breaches/

Hemenway, Chad. ‘Wyndham agrees to settle landmark legal battle with FTC over data breaches’. ©2015 Advisen Ltd. 16 December 2015.