Protect your balance sheet against cyber attacks
Network risk can now be determined. Each industries, companies of all sizes should these risks and all other risks (such as economic, competitive, operators, etc.) (if not exceed) their business to manage (if not exceed). Over 40% of respondents Marsh-Microsoft global network of risk perception 2019 investigation that they may be lost in cyber attacks in about $ 50 million. World Economic Forum by cyber attacks and data fraud is recognized as the largest annual two risks, these risks will increase to the highest level ( "2019 Global Risk Report").
Well-known Internet safety organization Orient Alliance, said: "With the development of information technology, network risk protection has become an important aspect of business planning as the company began to consider how to protect themselves against the risk of impact, there were two common problems:." I how high is the risk? "And" How to measure my data and business processes of security? "And today almost all business areas, the company should be used to protect data network risk to arm themselves in order to make better business decisions."
Risk analysis of data through the network, you can find:
Based on the data How to make better business decisions
The likelihood of successful network attacks
Frequency potential cyber attacks (event rate)
Network attacks can cause you to lose (also known as single expected loss or SLE)
Convert your network risk business terms (for example, the dollar impact, probability, etc.), it can determine whether the balance sheet can withstand the loss of network events. For example, if your company has a $ 10 million net risk protection insurance, and you can figure out a cyber attack will make your annual loss of $ 20 million within four years of it? And, if you can predict your incidence is once every four years, the likelihood of success of 42%, how to do?
The next question is: Is your balance sheet can support the additional costs in the first year and $ 10 million for future years (ie, $ 10 million a year, three years or a total of $ 30 million to $ 40 million)? This information is not required to completely change your view of the way the insurance companies as well as protection from the effects of cyber attacks infrastructure investment it?
According to Ocean Tomo market value of intangible assets carried out in 2017, the S & P 500 Index, the market value of the intangible assets associated with the percentage increase of 70%. These assets include the balance sheet to intellectual property rights. With the growing threat of intangible assets, how you can ensure financial security while identifying risks and maintain core operations and to protect customer data?
Quantify and define your network security risks: What are the risks? Use of network security risk analysis to prove the value of spending.
Analog network risk situations: respondents Marsh-Microsoft survey, only 38% of any network risk scenarios were modeled. Balance sheet risk modeling continuous network is crucial scene, because the business risk is dynamic.
Understand and quantify potential losses associated with the network risks: the possibility of various types of processing and storage and your growing data loss is how much?
Develop or update existing network vulnerabilities to mitigate risk protection plan: What are the risks? How should you do? You can be integrated into the business planning process by the data security policies and strategies, reduce network risk strategically.
Comprehensive coverage of your company's network of insurance can offset other risks: How much insurance do we need? How do you determine?
Who should be involved in this network risk protection plan?
Member of the board
CFO / CEO
Compliance Leadership
Financial leaders
Legal Leadership
Operational leadership
president
Risk Management Leadership
The risk is real, but understood that the methods how to assess and plan prevention as well. When it based on the most extensive set of data about the attack and the attackers, network protection risk analysis best. Regulation of global business, financial and reputational impact, we also must be considered. (Welcome to reprint share)