Ten Questions Your Board Should be asking about Cyber Security. Eric M. Wright, Shareholder
|
|
- Basil Robbins
- 8 years ago
- Views:
Transcription
1 Ten Questions Your Board Should be asking about Cyber Security Eric M. Wright, Shareholder
2 Eric Wright, CPA, CITP Started my career with Schneider Downs in Responsible for all IT audit and system implementations services provided by the firm. I have had the fortune of supporting a wide variety of clients in all industries. Graduated from Waynesburg College,magna cum laude with a BS in Mathematics and Computer Science. Chair the PICPA IT Assurance Committee. Member of the AICPA sub-committee on privacy. Member of the firm s Financial Services Focus Group. 2
3 Agenda Recent History Fun Facts Risks facing Financial Institutions 10 Questions your Board should be asking What can you do Questions 3
4 2014 Year of the Mega Breach Sony Shut down the company s IT systems for 2 weeks Target 40 million credit cards stolen JP Morgan Chase 83 million customers data was stolen ebay 145 million records compromised Home Depot 56 million credit cards stolen 4
5 5
6 Ponemon Security Study The average cost of a data breach has increased 15% to 3.5 million The average cost paid for each lost or stolen record that contained sensitive information increased more than 9% from $136 to $145 Average cost per lost record in the USA is $201 6
7 Fun Facts 1 in 10 US citizens are subject to identity theft If you make more than 70K, you are 2x more likely to be targeted In 2013, 13.1 million consumers were victims of identity theft 52% of all fraud involved on-line transactions Average time incurred to re-establish your identity hours 7
8 2009 Breaches by Type 37% 8
9 2013 Breaches by Type 3% 4% Stolen Documents Improper Disposal disclosure Unknown 33% 12% 6% Web- Based Hacks Stolen Computer 13% Social Engineering Hacking 62% 16% 14% 9
10 The Black Market Value of Data We Process Health Care Record - $50 Credit Card - $2 - $15 Social Security No. - $5 when packaged with a name Name and password to Bank Account - $1,000 Verified Accounts - $.50 10
11 A Quick Trip Down FFIEC s Memory Lane Revised Technology Service Providers Guidance 10/31/2012 Working Group on Cybersecurity established 6/6/2013 FFIEC Supports Cybersecurity Awareness Month 10/2/2013 Cybersecurity Webinar for 5,000+ Mgmt Members 5/7/2014 FFIEC Launches bersecurity.htm 6/24/2014 Cybersecurity Assessment Pilot Program Underway 7/1/2014 FFIEC Cybersecurity Assessment General Observations 11/3/2014 Emerging e-banking Technologies 7/15/1998 Technology Services Supplied by Outside Firms 11/28/2000 Revised e-banking and (IT) Audit Guidance 10/21/2004 Business Continuity Planning Released 3/19/2008 Remote Deposit Capture Technology 1/14/2009 FFIEC Cybersecurity Priorities for the Remainder of /1/2015 Release of Cybersecurity Assessment Tool 6/30/ Today 11
12 Risks that Financial Institutions Face Financial Forensics Public Relations Credit Monitoring Penalties and Fines Loss of Customers/Revenue Lawsuits and Legal Cost Drop in Stock Price Reputational Operational 12
13 Reputational Damage Front page news Notifying customers, employees, government agencies Public outcry Loss of customer trust Reluctance of new customers 13
14 Couldn t happen to me 14
15 So what do we have to look forward to? 15
16 Question 1 Have we assessed the maturity of our cyber security profile? 16
17 So, What is the Industry Recommending? On June 30 th, the FFIEC released their cyber security assessment tool Help institutions identify their risks and determine their cyber security maturity It is a repeatable and measurable process to keep management informed of their institutions cyber risks and ability to address a breach 17
18 Cyber Security Assessment Tool The tool has two components Inherent Risk Profile fancy name for risk assessment Cyber Security Maturity Evaluation The adoption of the tool is strictly voluntary at this time The FFIEC has targeted June of 2016 as the timeline to include in their examinations 18
19 Inherent Risk Profile Categories Technologies and Connection Types Delivery Channels Online/Mobile Products and Technology Services Organizational Characteristics External Threats 19
20 Cyber Security 1. Cyber Risk Management & Oversight Governance Risk Management Resources Training and Culture 2. Threat Intelligence & Collaboration 3. Cyber Security Controls Intelligence Sourcing Monitoring and Analyzing Information Sharing Preventative Controls Detective Controls Corrective Controls 4. External Dependency Management 5. Cyber Incident Management & Resilience Connections Relationships Management Incident Resilience Planning and Strategy Detection, Response and Mitigation Escalation and Reporting 20
21 Question 2 Have we built a layered defense to protect our customers sensitive information? 21
22 Build a Layered Approach to Defense 22
23 Question 3 Do we have a current inventory of our sensitive data and who has access to it? 23
24 Where is our data Which Servers and workstations Which Databases Which Applications Other Electronic Media 24
25 Question 4 Have we inventoried all of the third party vendors that have access to our systems and have we evaluated their controls? 25
26 Question 5 When was the last time we had an independent party try to hack into our systems? 26
27 Annual Security Reviews External Vulnerability Scans External Penetration Testing Firewall Configuration File Review Internal Vulnerability Scans 27
28 Question 6 What procedures have we implemented to protect our sensitive information that is stored and accessed using mobile devices? 28
29 Question 7 How often do we provide security awareness training to our personnel? 29
30 Question 8 Do we have the appropriate insurance coverage to address our cyber security concerns? 30
31 Cyber Insurance - Do I Need a Policy? Need to evaluate the information that you collect, process and store to determine the marketability of this data, if it was to fall into the hands of thieves. Need to evaluate your social profile. Are you a target of social activist? Need to understand the breach activities that have transpired in your industry. 31
32 First Party Coverage Theft and fraud. Covers destruction or loss of the policyholder s data, as the result of a criminal or fraudulent cyber event, including theft and transfer of funds. Forensic investigation. Covers the legal, technical or forensic services necessary to assess whether a cyber attack has occurred, to assess the impact of the attack and to stop an attack. Business interruption. Covers lost income and related costs where a policyholder is unable to conduct business, due to a cyber event or data loss. 32
33 First Party Coverage (continued) Extortion. Provides coverage for the costs associated with the investigation of threats to commit cyber attacks against the policyholder s systems and for payments to extortionists who threaten to obtain and disclose sensitive information. Computer data loss and restoration. Covers physical damage to, or loss of use of, computer-related assets, including the costs of retrieving and restoring data, hardware, software or other information destroyed or damaged, as the result of a cyber attack. 33
34 Third Party Coverage Litigation and regulatory. Covers the costs associated with civil lawsuits, judgments, settlements or penalties resulting from a cyber event. Regulatory response. Covers the legal, technical or forensic services necessary to assist the policyholder in responding to governmental inquiries relating to a cyber attack, and provides coverage for fines, penalties, investigations or other regulatory actions. Notification costs. Covers the costs to notify customers, employees or other victims affected by a cyber event, including notice required by law. 34
35 Third Party Coverage (continued) Crisis management. Covers crisis management and public relations expenses incurred to educate customers concerning a cyber event and the policyholder s response, including the cost of advertising for this purpose. Credit monitoring. Covers the costs of credit monitoring, fraud monitoring or other related services to customers or employees affected by a cyber event. Media liability. Provides coverage for media liability, including coverage for copyright, trademark or service mark infringement resulting from online publication by the insured. Privacy liability. Provides coverage for liability to employees or customers for a breach of privacy. 35
36 What is Not Covered by Cyber Insurance? Reputational harm Loss of future revenue Cost to improve internal technology safe guards Lost value of intellectual property The policy will typically have sublimit related to fines and penalties 36
37 Question 9 Do we have a formal incident response plan that has been tested in the event our systems are breeched? 37
38 Question 10 How Is Our Executive Leadership Kept Informed About the Current Level and Business Impact of Cyber Risks to Our Company? 38
39 What Actions Should I be Taking? Accept that security is an enterprise-wide risk, not just an IT issue. Create an awareness from the mailroom to the boardroom. Stakeholders include, but are not limited to, the Boardroom, HR, Audit, IT and Legal Establish awareness that controls and processes have been specifically designed to prevent attacks. New hire orientation Ongoing awareness and communication Visible to the organization 39
40 What Actions Should I be Taking? Integrate cyber risk strategy into the organization s strategic plan Have a team dedicated to managing cyber threats and your incident response plan Identify your organization s most critical data assets Where do these assets reside? Who has access to these assets? 40
41 What Actions Should I be Taking? Implement a layered defense Assess your cyber security maturity Identify vendors used for business functions involving critical data assets Make sure you understand their security policies and procedures Decide whether cyber insurance should be a part of your risk mitigation strategy 41
42 Your Role in Combatting Threats Be diligent Always Assume the Worst Understand and Follow Policies and Procedures Report Suspicious Activity Avoid Malicious Web Sites Don t Click on Suspicious s Ask for Identification Require Authorization for Access Safeguard Social Media Content Educate/Inform Customers Avoid Untrusted Wifi 42
43 Questions 43
Cyber Risks Management. Nikos Georgopoulos, MBA, cyrm Cyber Risks Advisor
Cyber Risks Management Nikos Georgopoulos, MBA, cyrm Cyber Risks Advisor 1 Contents Corporate Assets Data Breach Costs Time from Earliest Evidence of Compromise to Discovery of Compromise The Data Protection
More informationPrivacy Liability & Data Breach Management Nikos Georgopoulos Cyber Risks Advisor cyrm October 2014
Privacy Liability & Data Breach Management Nikos Georgopoulos Cyber Risks Advisor cyrm October 2014 Nikos Georgopoulos Privacy Liability & Data Breach Management wwww.privacyrisksadvisors.com October 2014
More informationJoe A. Ramirez Catherine Crane
RIMS/RMAFP PRESENTATION Joe A. Ramirez Catherine Crane RISK TRANSFER VIA INSURANCE Most Common Method Involves Assessment of Risk and Loss Potential Risk of Loss Transferred For a Premium Insurance Contract
More informationCybersecurity Workshop
Cybersecurity Workshop February 10, 2015 E. Andrew Keeney, Esq. Kaufman & Canoles, P.C. E. Andrew Keeney, Esq. Kaufman & Canoles, P.C. 150 West Main Street, Suite 2100 Norfolk, VA 23510 (757) 624-3153
More informationClick to edit Master title style
EVOLUTION OF CYBERSECURITY Click to edit Master title style IDENTIFYING BEST PRACTICES PHILIP DIEKHOFF, IT RISK SERVICES TECHNOLOGY THE DARK SIDE AGENDA Defining cybersecurity Assessing your cybersecurity
More informationGALLAGHER CYBER LIABILITY PRACTICE. Tailored Solutions for Cyber Liability and Professional Liability
GALLAGHER CYBER LIABILITY PRACTICE Tailored Solutions for Cyber Liability and Professional Liability Are you exposed to cyber risk? Like nearly every other business, you have probably capitalized on the
More informationCyber-Crime Protection
Cyber-Crime Protection A program of cyber-crime prevention, data breach remedies and data risk liability insurance for houses of worship, camps, schools, denominational/association offices and senior living
More informationData breach, cyber and privacy risks. Brian Wright Lloyd Wright Consultants Ltd
Data breach, cyber and privacy risks Brian Wright Lloyd Wright Consultants Ltd Contents Data definitions and facts Understanding how a breach occurs How insurance can help to manage potential exposures
More informationNetwork Security & Privacy Landscape
Network Security & Privacy Landscape Presented By: Greg Garijanian Senior Underwriter Professional Liability 1 Agenda Network Security Overview -Latest Threats - Exposure Trends - Regulations Case Studies
More informationCyber Insurance Presentation
Cyber Insurance Presentation Presentation Outline Introduction General overview of Insurance About us Cyber loss statistics Cyber Insurance product coverage Loss examples Q & A About Us A- Rated reinsurance
More informationData Breach and Senior Living Communities May 29, 2015
Data Breach and Senior Living Communities May 29, 2015 Todays Objectives: 1. Discuss Current Data Breach Trends & Issues 2. Understanding Why The Senior Living Industry May Be A Target 3. Data Breach Costs
More information3/4/2015. Scope of Problem. Data Breaches A Daily Phenomenon. Cybersecurity: Minimizing Risk & Responding to Breaches. Anthem.
Cybersecurity: Minimizing Risk & Responding to Breaches March 5, 2015 Andy Chambers Michael Kelly Jimmie Pursell Scope of Problem Data Breaches A Daily Phenomenon Anthem JP Morgan / Chase Sony Home Depot
More informationInsuring Innovation. CyberFirst Coverage for Technology Companies
Insuring Innovation. CyberFirst for Technology Companies TECHNOLOGY IS EVERYWHERE. SO ARE THE THREATS. protection that goes well beyond a traditional general liability policy. CyberFirst CyberFirst is
More informationCyber Threats: Exposures and Breach Costs
Issue No. 2 THREAT LANDSCAPE Technological developments do not only enhance capabilities for legitimate business they are also tools that may be utilized by those with malicious intent. Cyber-criminals
More informationWhat Data? I m A Trucking Company!
What Data? I m A Trucking Company! Presented by: Marc C. Tucker 434 Fayetteville Street, Suite 2800 Raleigh, NC, 27601 919.755.8713 marc.tucker@smithmoorelaw.com Presented by: Rob D. Moseley, Jr. 2 West
More informationCybersecurity y Managing g the Risks
Cybersecurity y Managing g the Risks Presented by: Steven L. Caponi Jennifer Daniels Gregory F. Linsin 99 Cybersecurity The Risks Are Real Perpetrators are as varied as their goals Organized Crime: seeking
More informationCybersecurity The role of Internal Audit
Cybersecurity The role of Internal Audit Cyber risk High on the agenda Audit committees and board members are seeing cybersecurity as a top risk, underscored by recent headlines and increased government
More informationPROFESSIONAL RISK PRIVACY CLAIMS SCENARIOS
PROFESSIONAL RISK PRIVACY CLAIMS SCENARIOS The following claim scenarios are hypothetical and are offered solely to illustrate the types of situations that may result in claims. Although sorted by industry,
More informationInsurance Considerations Related to Data Security and Breach in Outsourcing Agreements
Insurance Considerations Related to Data Security and Breach in Outsourcing Agreements Greater New York Chapter Association of Corporate Counsel November 19, 2015 Stephen D. Becker, Executive Vice President
More informationInternet Gaming: The New Face of Cyber Liability. Presented by John M. Link, CPCU Cottingham & Butler
Internet Gaming: The New Face of Cyber Liability Presented by John M. Link, CPCU Cottingham & Butler 1 Presenter John M. Link, Vice President jlink@cottinghambutler.com 2 What s at Risk? $300 billion in
More informationFINAL May 2005. Guideline on Security Systems for Safeguarding Customer Information
FINAL May 2005 Guideline on Security Systems for Safeguarding Customer Information Table of Contents 1 Introduction 1 1.1 Purpose of Guideline 1 2 Definitions 2 3 Internal Controls and Procedures 2 3.1
More informationLaw Firm Cyber Security & Compliance Risks
ALA WEBINAR Law Firm Cyber Security & Compliance Risks James Harrison CEO, INVISUS Breach Risks & Trends 27.5% increase in breaches in 2014 (ITRC) Over 500 million personal records lost or stolen in 2014
More informationLessons Learned from Recent HIPAA and Big Data Breaches. Briar Andresen Katie Ilten Ann Ladd
Lessons Learned from Recent HIPAA and Big Data Breaches Briar Andresen Katie Ilten Ann Ladd Recent health care breaches Breach reports to OCR as of February 2015 1,144 breaches involving 500 or more individual
More informationBy: Gerald Gagne. Community Bank Auditors Group Cybersecurity What you need to do now. June 9, 2015
Community Bank Auditors Group Cybersecurity What you need to do now June 9, 2015 By: Gerald Gagne MEMBER OF PKF NORTH AMERICA, AN ASSOCIATION OF LEGALLY INDEPENDENT FIRMS 2015 Wolf & Company, P.C. Cybersecurity
More informationProtecting Your Assets: How To Safeguard Your Fund Against Cyber Security Attacks
Protecting Your Assets: How To Safeguard Your Fund Against Cyber Security Attacks Hacks, breaches, stolen data, trade secrets hijacked, privacy violated, ransom demands made; how can you protect your data
More informationcyber invasions cyber risk insurance AFP Exchange
Cyber Risk With cyber invasions now a common place occurrence, insurance coverage isn t found in your liability policy. So many different types of computer invasions exist, but there is cyber risk insurance
More informationBOARD OF GOVERNORS MEETING JUNE 25, 2014
CYBER RISK UPDATE BOARD OF GOVERNORS MEETING JUNE 25, 2014 EXECUTIVE SUMMARY Cyber risk has become a major threat to organizations around the world, as highlighted in several well-publicized data breaches
More informationManaging Cyber Risk through Insurance
Managing Cyber Risk through Insurance Eric Lowenstein Aon Risk Solutions This presentation has been prepared for the Actuaries Institute 2015 ASTIN and AFIR/ERM Colloquium. The Institute Council wishes
More informationCyberSecurity for Law Firms
CyberSecurity for Law Firms Cracking the Cyber Code: Recent Headlines, Reinforcing the Need and Response Planning July 16, 2013 Making the Case Matthew Magner Senior Underwriting Officer Chubb & Son, a
More informationCyber Risks in the Boardroom
Cyber Risks in the Boardroom Managing Business, Legal and Reputational Risks Perspectives for Directors and Executive Officers Preparing Your Company to Identify, Mitigate and Respond to Risks in a Changing
More informationData breach! cyber and privacy risks. Brian Wright Michael Guidry Lloyd Guidry LLC
Data breach! cyber and privacy risks Brian Wright Michael Guidry Lloyd Guidry LLC Collaborative approach Objective: To develop your understanding of a data breach, and risk transfer options to help you
More informationCybersecurity: What CFO s Need to Know
Cybersecurity: What CFO s Need to Know William J. Nowik, CISA, CISSP, QSA PCIP MEMBER OF PKF NORTH AMERICA, AN ASSOCIATION OF LEGALLY INDEPENDENT FIRMS 2014 Wolf & Company, P.C. Today s Agenda Introduction
More informationISO? ISO? ISO? LTD ISO?
Property NetProtect 360 SM and NetProtect Essential SM Which one is right for your client? Do your clients Use e-mail? Rely on networks, computers and electronic data to conduct business? Browse the Internet
More informationI ve been breached! Now what?
I ve been breached! Now what? THE AFTERMATH OF A BREACH & STEPS TO REDUCE RISK The number of data breaches in the United States in 2014 hit a record high. And 2015 is not looking any better. There have
More informationFFIEC Cybersecurity Assessment Tool Overview for Chief Executive Officers and Boards of Directors
Overview for Chief Executive Officers and Boards of Directors In light of the increasing volume and sophistication of cyber threats, the Federal Financial Institutions Examination Council 1 (FFIEC) developed
More information12/4/2013. Regulatory Updates. Eric M. Wright, CPA, CITP. Schneider Downs & Co., Inc. December 5, 2013
Regulatory Updates Eric M. Wright, CPA, CITP Schneider Downs & Co., Inc. December 5, 2013 Eric M. Wright, CPA, CITP Eric has been involved with Information Technology with Schneider Downs since 1983. He
More informationCYBER SECURITY SPECIALREPORT
CYBER SECURITY SPECIALREPORT 32 The RMA Journal February 2015 Copyright 2015 by RMA INSURANCE IS AN IMPORTANT TOOL IN CYBER RISK MITIGATION Shutterstock, Inc. The time to prepare for a potential cyber
More informationAPIP - Cyber Liability Insurance Coverages, Limits, and FAQ
APIP - Cyber Liability Insurance Coverages, Limits, and FAQ The state of Washington purchases property insurance from Alliant Insurance Services through the Alliant Property Insurance Program (APIP). APIP
More informationCybercrime: risks, penalties and prevention
Cybercrime: risks, penalties and prevention Cyber attacks have been appearing in the news with increased frequency and recent victims of cybercrime have included well-known companies such as Sony, LinkedIn,
More informationCyber Insurance: How to Investigate the Right Coverage for Your Company
6-11-2015 Cyber Insurance: How to Investigate the Right Coverage for Your Company Presented by: Faith M. Heikkila, Ph.D., CISM, CIPM, CIPP-US, ABCP Greenleaf Trust Chief Information Security Officer (CISO)
More informationZurich Security And Privacy Protection Policy Application
Zurich Security And Privacy Protection Policy Application COVERAGE A. AND COVERAGE F. OF THE POLICY FOR WHICH YOU ARE APPLYING IS WRITTEN ON A CLAIMS FIRST MADE AND REPORTED BASIS. ONLY CLAIMS FIRST MADE
More informationHIPAA Security Alert
Shipman & Goodwin LLP HIPAA Security Alert July 2008 EXECUTIVE GUIDANCE HIPAA SECURITY COMPLIANCE How would your organization s senior management respond to CMS or OIG inquiries about health information
More informationCyber Risk, Legal And Regulatory Issues, And Insurance Mitigation ISACA Pittsburgh Information Security Awareness Day
Lloyd s of London (Reuters) May 8, 2000 Cyber Risk, Legal And Regulatory Issues, And Insurance Mitigation ISACA Pittsburgh Information Security Awareness Day Rivers Casino, Pittsburgh November 17, 2014
More informationDATA BREACH BREAK DOWN LESSONS LEARNED FROM TARGET
DATA BREACH BREAK DOWN LESSONS LEARNED FROM TARGET 2014 NSGA Management Conference John Webb Jr., CIC Emery & Webb, Inc. Inga Goddijn, CIPP/US Risk Based Security, Inc. Not just a big business problem
More informationWHITE PAPER KEEPING CLIENT AND EMPLOYEE DATA SECURE DRIVES REVENUE AND BUILDS TRUST PROTECTING THE PROTECTOR
KEEPING CLIENT AND EMPLOYEE DATA SECURE DRIVES REVENUE AND BUILDS TRUST Protecting Identities. Enhancing Reputations. IDT911 1 DATA BREACHES AND SUBSEQUENT IDENTITY THEFT AND FRAUD THREATEN YOUR ORGANIZATION
More informationCybersecurity: Protecting Your Business. March 11, 2015
Cybersecurity: Protecting Your Business March 11, 2015 Grant Thornton. All LLP. rights All reserved. rights reserved. Agenda Introductions Presenters Cybersecurity Cybersecurity Trends Cybersecurity Attacks
More informationHow To Buy Cyber Insurance
10-26-2015 Cyber Insurance: How to Investigate the Right Coverage for Your Company Presented by: Faith M. Heikkila, Ph.D., CISM, CIPM, CIPP-US, ABCP Greenleaf Trust Chief Information Security Officer (CISO)
More informationAttachment A. Identification of Risks/Cybersecurity Governance
Attachment A Identification of Risks/Cybersecurity Governance 1. For each of the following practices employed by the Firm for management of information security assets, please provide the month and year
More informationDATA BREACH COVERAGE
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ THIS CAREFULLY. DATA BREACH COVERAGE SCHEDULE OF COVERAGE LIMITS Coverage Limits of Insurance Data Breach Coverage $50,000 Legal Expense Coverage $5,000
More informationCYBER SECURITY Cyber Security for Canadian Directors in the Wake of Ashley Madison
CYBER SECURITY Cyber Security for Canadian Directors in the Wake of Ashley Madison Gary Solway* Bennett Jones LLP The August release of the purported names and other details of over 35 million customers
More informationwww.pwc.com The data breach lifecycle: From prevention to response IAPP global privacy summit March 6, 2014 (4:30-5:30) Draft v8 2-25-14
www.pwc.com The data breach lifecycle: From prevention to response IAPP global privacy summit (4:30-5:30) Draft v8 2-25-14 Common Myths 1. You have not been hacked. 2. Cyber security is about keeping the
More informationCyber Risk: Global Warning? by Cinzia Altomare, Gen Re
Cyber Risk: Global Warning? by Cinzia Altomare, Gen Re Global Warning It is a matter of time before there is a major cyber attackon the global financial system and the public needs to invest heavily in
More informationCybersecurity Best Practices in Mortgage Banking. Article by Jim Deitch October 2015
Cybersecurity Best Practices in Mortgage Banking Article by Jim Deitch Cybersecurity Best Practices in Mortgage Banking BY JIM DEITCH Jim Deitch Recent high-profile cyberattacks have clearly demonstrated
More informationPrivacy / Network Security Liability Insurance Discussion. January 30, 2013. Kevin Violette RT ProExec
Privacy / Network Security Liability Insurance Discussion January 30, 2013 Kevin Violette RT ProExec 1 Irrefutable Laws of Information Security 1) Information wants to be free People want to talk, post,
More informationCybersecurity. Threats to Nonprofits. Chris Debo Senior Manager, IT Audit. August 14, 2014
Cybersecurity Threats to Nonprofits Chris Debo Senior Manager, IT Audit August 14, 2014 What is Cybersecurity? NIST definition: The process of protecting information by preventing, detecting, and responding
More informationPanel Title: Data Breaches: Industry and Law Enforcement Perspectives on Best Practices
Panel Title: Data Breaches: Industry and Law Enforcement Perspectives on Best Practices Over the course of this one hour presentation, panelists will cover the following subject areas, providing answers
More informationFFIEC Cybersecurity Assessment Tool
Overview In light of the increasing volume and sophistication of cyber threats, the Federal Financial Institutions Examination Council 1 (FFIEC) developed the Cybersecurity Tool (), on behalf of its members,
More informationBe Afraid, Be Very Afraid!!! Hacking Out the Pros and Cons of Captive Cyber Liability Insurance
Be Afraid, Be Very Afraid!!! Hacking Out the Pros and Cons of Captive Cyber Liability Insurance Today s agenda Introductions Cyber exposure overview Cyber insurance market and coverages Captive cyber insurance
More information2015 PIAA Corporate Counsel Workshop October 22 23, 2015 Considerations in Cyber Liability Coverage
2015 PIAA Corporate Counsel Workshop October 22 23, 2015 Considerations in Cyber Liability Coverage Chris Reese Vice President, Director of Underwriting Connie Rivas Asst. Vice President, Contracts and
More informationCyber-Security Risk- IP Theft and Data Breaches Protecting your Crown Jewels Internally and with Your Key Third Parties
Cyber-Security Risk- IP Theft and Data Breaches Protecting your Crown Jewels Internally and with Your Key Third Parties Pamela Passman President and CEO Center for Responsible Enterprise And Trade (CREATe.org)
More informationCyber Liability. Michael Cavanaugh, RPLU Vice President, Director of Production Apogee Insurance Group 877-337-3200 Ext. 7029
Cyber Liability Michael Cavanaugh, RPLU Vice President, Director of Production Apogee Insurance Group 877-337-3200 Ext. 7029 Today s Agenda What is Cyber Liability? What are the exposures? Reality of a
More informationCyber/Information Security Insurance. Pros / Cons and Facts to Consider
1 Cyber/Information Security Insurance Pros / Cons and Facts to Consider 2 Presenters Calvin Rhodes, Georgia Chief Information Officer Ron Baldwin, Montana Chief Information Officer Ted Kobus, Partner
More informationRISKY BUSINESS SEMINAR CYBER LIABILITY DISCUSSION
RISKY BUSINESS SEMINAR CYBER LIABILITY DISCUSSION October 23, 2015 THREAT ENVIRONMENT Growing incentive for insiders to abuse access to sensitive data for financial gain Disgruntled current and former
More informationManaging Cyber & Privacy Risks
Managing Cyber & Privacy Risks NAATP Conference 2013 NSM Insurance Group Sean Conaboy Rich Willetts SEAN CONABOY INSURANCE BROKER NSM INSURANCE GROUP o Sean has been with NSM Insurance Group for the past
More informationData Breach Response Planning: Laying the Right Foundation
Data Breach Response Planning: Laying the Right Foundation September 16, 2015 Presented by Paige M. Boshell and Amy S. Leopard babc.com ALABAMA I DISTRICT OF COLUMBIA I FLORIDA I MISSISSIPPI I NORTH CAROLINA
More informationReducing Risk. Raising Expectations. CyberRisk and Professional Liability
Reducing Risk. Raising Expectations. CyberRisk and Professional Liability Are you exposed to CyberRisk? Like nearly every other business, you have likely capitalized on the advancements in technology today
More informationCybersecurity: Considerations for Internal Audit. IIA Atlanta Chapter Meeting January 9, 2015
Cybersecurity: Considerations for Internal Audit IIA Atlanta Chapter Meeting January 9, 2015 Agenda Key Risks Incorporating Internal Audit Resources for Internal Auditors Questions 2 Key Risks 3 4 Key
More informationSINGAPORE HEALTHCARE ENTERPRISE RISK MANAGEMENT CONGRESS 2014 - Data Breach : The Emerging Threat to Healthcare Industry
SINGAPORE HEALTHCARE ENTERPRISE RISK MANAGEMENT CONGRESS 2014 - Data Breach : The Emerging Threat to Healthcare Industry DATA BREACH A FICTIONAL CASE STUDY THE FIRST SIGNS OF TROUBLE Friday, 5.20 pm :
More informationData Security Breaches: Learn more about two new regulations and how to help reduce your risks
Data Security Breaches: Learn more about two new regulations and how to help reduce your risks By Susan Salpeter, Vice President, Zurich Healthcare Risk Management News stories about data security breaches
More informationDON T BE A VICTIM! IS YOUR ORGANIZATION PROTECTED FROM CYBERSECURITY THREATS?
HEALTH WEALTH CAREER DON T BE A VICTIM! IS YOUR ORGANIZATION PROTECTED FROM CYBERSECURITY THREATS? FREEMAN WOOD HEAD OF MERCER SENTINEL NORTH AMERICA GREGG SOMMER HEAD OF OPERATIONAL RISK ASSESSMENTS MERCER
More informationHow To Protect Yourself From Cyber Threats
Cyber Security for Non- Profit Organizations Scott Lawler CISSP- ISSAP, ISSMP, HCISPP Copyright 2015 LP3 May 2015 Agenda IT Security Basics e- Discovery Compliance Legal Risk Disaster Plans Non- Profit
More informationPractical Cyber Law: Why the Standard of Care Requires Lawyers to Have a Basic Understanding of Cyber Insurance
Practical Cyber Law: Why the Standard of Care Requires Lawyers to Have a Basic Understanding of Cyber Insurance By Shawn Tuma & Katti Smith Data breaches have become far more common than most people realize.
More informationEd McMurray, CISA, CISSP, CTGA CoNetrix
Ed McMurray, CISA, CISSP, CTGA CoNetrix AGENDA Introduction Cybersecurity Recent News Regulatory Statements NIST Cybersecurity Framework FFIEC Cybersecurity Assessment Questions Information Security Stats
More informationData Breach Cost. Risks, costs and mitigation strategies for data breaches
Data Breach Cost Risks, costs and mitigation strategies for data breaches Tim Stapleton, CIPP/US Deputy Global Head of Professional Liability Zurich General Insurance Data Breaches: Greater frequency,
More informationCyber Exposure for Credit Unions
Cyber Exposure for Credit Unions What it is and how to protect yourself L O C K T O N 2 0 1 2 www.lockton.com Add Cyber Title Exposure Here Overview #1 financial risk for Credit Unions Average cost of
More informationEnterprise PrivaProtector 9.0
IRONSHORE INSURANCE COMPANIES 75 Federal St Boston, MA 02110 Toll Free: (877) IRON411 Enterprise PrivaProtector 9.0 Network Security and Privacy Insurance Application THE APPLICANT IS APPLYING FOR A CLAIMS
More informationERM Symposium April 2009. Moderator Nancy Bennett
ERM Symposium April 2009 RI4-Implementing a Comprehensive Privacy Program John Kelly Joseph Nocera Moderator Nancy Bennett Data & Identity Theft: Keeping sensitive data out of the wrong hands Presented
More informationData Breaches and Cyber Risks
Data Breaches and Cyber Risks Carolinas Credit Union League Leadership Conference Presented by: Ken Otsuka Business Protection Risk Management CUNA Mutual Group CUNA Mutual Group Proprietary Reproduction,
More informationDefining the Gap: The Cybersecurity Governance Study
Defining the Gap: The Cybersecurity Governance Study Sponsored by Fidelis Cybersecurity Independently conducted by Ponemon Institute LLC Publication Date: June 2015 Ponemon Institute Research Report Defining
More informationACE Advantage PRIVACY & NETWORK SECURITY
ACE Advantage PRIVACY & NETWORK SECURITY SUPPLEMENTAL APPLICATION COMPLETE THIS APPLICATION ONLY IF REQUESTING COVERAGE FOR PRIVACY LIABILITY AND/OR NETWORK SECURITY LIABILITY COVERAGE. Please submit with
More informationIs Your Financial Institutions' Insurance Policy vulnerable to a cyber claim? Joan D Ambrosio, James Cooper and Kim West 22 January 2014
Is Your Financial Institutions' Insurance Policy vulnerable to a cyber claim? Joan D Ambrosio, James Cooper and Kim West 22 January 2014 Cyber Exposures Joan D Ambrosio Reported data breaches continue
More informationPrivacy and Data Breach Protection Modular application form
Instructions The Hiscox Technology, Privacy and Cyber Portfolio Policy may be purchased on an a-la-carte basis. Some organizations may require coverage for their technology errors and omissions, while
More informationSMB Data Breach Risk Management Best Practices. By Mark Pribish February 19, 2015
SMB Data Breach Risk Management Best Practices By Mark Pribish February 19, 2015 Presentation Agenda About Mark Pribish Information Governance The Threat Landscape Data Breach Trends Legislative and Regulatory
More informationIRONSHORE SPECIALTY INSURANCE COMPANY 75 Federal St. Boston, MA 02110 Toll Free: (877) IRON411
IRONSHORE SPECIALTY INSURANCE COMPANY 75 Federal St. Boston, MA 02110 Toll Free: (877) IRON411 Enterprise PrivaProtector 9.0 Network Security and Privacy Insurance Application THE APPLICANT IS APPLYING
More informationExercising Your Enterprise Cyber Response Crisis Management Capabilities
Exercising Your Enterprise Cyber Response Crisis Management Capabilities Ray Abide, PricewaterhouseCoopers, LLP 2015 PricewaterhouseCoopers LLP, a Delaware limited liability partnership. All rights reserved.
More informationAftermath of a Data Breach Study
Aftermath of a Data Breach Study Sponsored by Experian Data Breach Resolution Independently conducted by Ponemon Institute LLC Publication Date: January 2012 Ponemon Institute Research Report Aftermath
More informationCyber and Privacy Risk What Are the Trends? Is Insurance the Answer?
Minnesota Society for Healthcare Risk Management September 22, 2011 Cyber and Privacy Risk What Are the Trends? Is Insurance the Answer? Melissa Krasnow, Partner, Dorsey & Whitney, and Certified Information
More informationManaging Your Cyber & Data Risk 2010 NTA Convention Montreal, Quebec
Managing Your Cyber & Data Risk 2010 NTA Convention Montreal, Quebec Jeremy Ong Divisional Vice-President Great American Insurance Company November 13, 2010 1 Agenda Overview of data breach statistics
More informationZip It! Feds, State Strengthen Privacy Protection. Practice Management Feature July 2012. Tex Med. 2012;108(7):33-37.
Zip It! Feds, State Strengthen Privacy Protection Practice Management Feature July 2012 Tex Med. 2012;108(7):33-37. By Crystal Conde Associate Editor When it comes to enforcing HIPAA data security and
More informationplantemoran.com What School Personnel Administrators Need to know
plantemoran.com Data Security and Privacy What School Personnel Administrators Need to know Tomorrow s Headline Let s hope not District posts confidential data online (Tech News, May 18, 2007) In one of
More informationOctober 24, 2014. Mitigating Legal and Business Risks of Cyber Breaches
October 24, 2014 Mitigating Legal and Business Risks of Cyber Breaches AGENDA Introductions Cyber Threat Landscape Cyber Risk Mitigation Strategies 1 Introductions 2 Introductions To Be Confirmed Title
More informationCybersecurity Awareness
Awareness Objectives Discuss the Evolution of Data Security Define Review Threat Environment Discuss Information Security Program Enhancements for Cyber Risk Threat Intelligence Third-Party Management
More informationPCI Compliance for Healthcare
PCI Compliance for Healthcare Best practices for securing payment card data In just five years, criminal attacks on healthcare organizations are up by a stunning 125%. 1 Why are these data breaches happening?
More informationTHE HARTFORD ASSET MANAGEMENT CHOICE sm POLICY NETWORK
THE HARTFORD ASSET MANAGEMENT CHOICE sm POLICY NETWORK SECURITY AND THEFT OF DATA COVERAGE APPLICATION Name of Insurance Company to which application is made NOTICE: THIS POLICY PROVIDES CLAIMS MADE COVERAGE.
More informationPreventing And Dealing With Cyber Attacks And Data Breaches. Arnold & Porter LLP Lockheed Martin WMACCA February 12, 2014
Preventing And Dealing With Cyber Attacks And Data Breaches Arnold & Porter LLP Lockheed Martin WMACCA February 12, 2014 Charles A. Blanchard Arnold & Porter LLP Formerly General Counsel, U.S. Air Force
More informationBeyond Data Breach: Cyber Trends and Exposures
Beyond Data Breach: Cyber Trends and Exposures Vietnam 7 th May 2015 Jason Kelly Head of Asia Financial Lines AIG Agenda Why do companies need cyber protection Example of Cyber attack worldwide and in
More informationTHE NEW REALITY OF RISK CYBER RISK: TRENDS AND SOLUTIONS
THE NEW REALITY OF RISK CYBER RISK: TRENDS AND SOLUTIONS Read the Marsh Risk Management Research Briefing: Cyber Risks Extend Beyond Data and Privacy Exposures To access the report, visit www.marsh.com.
More informationCybersecurity: Emerging Legal Risks
Cybersecurity: Emerging Legal Risks Data Breach Cyber Liability Seminar April 17, 2015 By: Tsutomu L. Johnson tj@scmlaw.com Overview of 2014 Data Breaches: JP Morgan, Home Depot, P.F. Chang s, Healthcare.gov,
More informationCyber-insurance: Understanding Your Risks
Cyber-insurance: Understanding Your Risks Cyber-insurance represents a complete paradigm shift. The assessment of real risks becomes a critical part of the analysis. This article will seek to provide some
More information