Beyond the Policy: Uncovering Cyber Risks That Outstrip Cyber Liability
Download MP3In this episode, we dive deep into the multifaceted nature of cyber risks and how they extend beyond mere cyber liability. Here's what we'll cover:
- Beyond Cyber Liability:
- Introduction to the broader scope of cyber risks beyond cyber liability.
- The comprehensive impacts of cyber attacks, including costs beyond the immediate attack.
- Identifying Perils:
- Explanation of various perils that could affect you as an insured entity.
- Real-world examples:
- Contractors paying settlements due to outdated defenses against hackers and ransomware.
- Lack of basic testing and regular monitoring leading to vulnerabilities.
- Supply Chain Vulnerabilities:
- Importance of ensuring your supply chain's cyber defense and insurance status.
- Risks associated with insecure suppliers:
- Potential interruption in manufacturing or service provision.
- Possible customer dissatisfaction or loss.
- Legal implications of failing to meet contractual obligations.
- Best Practices for Cyber Defense:
- Emphasis on regular testing, maintenance, and monitoring of systems.
- Comparison to fire prevention measures in buildings:
- Preventive actions and having a response plan.
- Importance of preparedness for inevitable cyber attacks.
- Handling Cyber Attacks:
- Developing a robust response plan.
- Having an insurance policy in place.
- Assigning internal personnel to mitigate losses.
- Types of Losses from Cyber Attacks:
- Financial losses.
- Personnel losses, including the potential loss of valuable employees.
- Practical losses, such as unproductive downtime.
- Thriving Amidst Cyber Threats:
- Strategies for business continuity despite cyber attacks.
- Integrating cyber risk management into overall business contingency plans.
Additional Resources:
- Remember, ActualHuman.com offers live one-on-one private video consultations with experts in cyber security, insurance, real estate, and more. Get tailored advice and solutions for your specific situation.
Tune in to ensure your business is well-equipped to handle and survive cyber threats effectively.
