Blog

Board Conversations: Replacing Fear and Uncertainty with Smart Cyber Insurance Decisions

Board Conversations: Replacing Fear and Uncertainty with Smart Cyber Insurance Decisions

By Kyle Ferguson, Vice President, SSIC

This is the first blog in our “Board Conversation” series, where we will explore security topics that resonate with executive leadership and within the boardroom.

In light of recent “mega breaches,” which are receiving extensive media attention, the global cyber insurance market is growing as enterprises seek to transfer the uncertainty of cyber risk.

Overwhelmed by Cyber Risk, Or Just an Attention Deficit?

Overwhelmed by Cyber Risk, Or Just an Attention Deficit?

By Robert Vescio, SSIC Managing Director

Regarding cyber risk, are most organizations equipped to determine what’s important and motivated to do something about it?  Or, do most organizations have an attention deficit with cyber risk?

Cyber risk is a confusing, contradictory, inconsistent, and frustrating topic.

Your #1 Patch (It’s Not What You Think)

Your #1 Patch (It’s Not What You Think)

By Thomas Lyden, SSIC Managing Director, Client Services

With all the rage about the recent mega breach at Equifax and the web application vulnerability it exploited, I thought I’d share what I see as the #1 patch to make long-term improvements.

Something must change.

Corporate Reputation in the Era of the Mega Breach: Part 1

Corporate Reputation in the Era of the Mega Breach: Part 1

By Denson Todd, SSIC Director of Cyber Risk Services

“It takes 20 years to build a reputation and five minutes to ruin it,” stated Warren Buffett.  While I don’t dispute Mr. Buffett’s business wisdom overall, I wonder – does this still hold true for business reputation in the era of the mega breach?

It’s logical to assume that a breach--of both customer trust and records--will correlate directly with a damaged reputation, but is that still the case? Is corporate reputation overrated?  That certainly seems to be the case when a new data breach hits the headlines every other day.

Predicting Equifax’s Data Breach Impact

Predicting Equifax’s Data Breach Impact

By Robert Vescio, SSIC Managing Director

On September 7, 2017, Equifax announced that its computer systems had been breached, leading to the unauthorized accessing of social security numbers and birth dates of up to 143 million U.S. consumers.  As with most data breaches, outsiders are speculating how such a breach occurred (which weaknesses were exploited), researchers are trying to understand the time between initial breach and breach discovery, customers (or victims) are worrying how this will impact them, and product vendors are determining how to use this breach to sell more product.