Cyber insurance is still in its infancy and continues to evolve. Cyber risks are typically very complex and constantly changing. The new working environment is also dynamically impacting the risks we face, which in turn need to be insured. The impact on business risk and the cyber insurance market has been radical.
With the increase in the number and cost of cyber incidents, more firms have recognized how vulnerable they are to an attack. The high costs from attacks have resulted in increased demand for cyber insurance at a time when continued high profile cyber-attacks (e.g. the Colonial Pipeline and Kesaya attacks) have meant insurers have been forced to review the cover they are willing to provide and at what premium.
As the cyber insurance market hardens so insurers are outlining new requirements to obtain cyber cover. One of the most important is the need to effectively manage your human cyber risks via effective cyber security training and behaviour change. Insurers take a holistic approach to assessing an organization’s cyber risk posture, from the technical to the human layer, and security awareness and behaviours is a key factor for the overall organizational risk profile.
So, what do organizations need to do to ensure their security training is effective and how will this assist them in obtaining and maintaining appropriate cyber insurance?
In this webinar, you will meet Maria Long, Assistant VP, Cyber Underwriter & Risk Management Leader, Munich Re Specialty Insurance. Richard Knowlton, Director of Security Studies, Oxford Cyber Academy, and Nick Wilding, Lead Security Awareness Consultant, TitanHQ.
Key takeaways from this webinar:
• Discover the current state of the cyber insurance market
• Understand why behaviour-based security awareness training is so critical
• Learning about the targeting, relevance & the motivation to become cyber-savvy
• What cyber insurers offer and need to offer, as part of their policies, to help their insured clients, mitigate and prevent human cyber risks?
• Future partnerships between cyber insurance & human cyber risk management