Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

Risky Business – The Valuation of Data Breaches

Richard Pain | April 17, 2017
Without accurately calculating the cost of a cyber-attack, you will struggle invest enough in cyber-defences

Forgie also emphasises that cyber insurance is not a solution in itself, you cannot insure your way out of the problem. However cyber insurance can be a useful tool to transfer residual risk and can be a helpful factor in the case of regulatory negotiations and civil lawsuit settlements in the aftermath of a data breach.

Fortunately, there are several strategies that have been shown to manage the risk and mitigate the cost of a data breach, number one of which is reducing the mean time to identify a breach and the mean time to restore. You can view the other strategies in the graph below:


Mitigating cyber-risk


Based on this, Forgie's top recommendations include:


  • Hire a great CISO,
  • Ensure the Board and exec leadership is on board to drive a security first culture,
  • Utilize cyber insurance appropriately,
  • Adopt an assumption of breach posture,
  • Focus on minimising the time attackers are in your systems, specifically "dwell time", which is highly correlated to breach costs.
  • Ensure your CISO has great incident identification and response frameworks, processes and metrics in place.

You can learn more by watching Todd Forgie's full video presentation below.

Cloudsec Banner Top

To meet other world-class experts like Todd Forgie, don't miss CLOUDSEC Singapore 2017, 22nd August 2017, Singapore. Click here to attend

Cloudsec Banner Bottom

Cloudsec Logo


Previous Page  1  2 

Sign up for CIO Asia eNewsletters.