NetDiligence®’s Post

Understanding cyber claims trends helps to inform an effective risk management strategy. With cyber risk firmly embedded as a key concern for organizations of all sizes, effective risk transfer is an increasingly important piece of a successful cyber risk management strategy. Get your copy of the report today to stay ahead of cyber risk: https://rb.gy/lbbmzj #cybersecurity #riskmanagement #USA #Canada

🚨 New on the RiskTech Journal: "Elevating Cyber Risk Management: The Imperative Role of IRM Post-UnitedHealth Hack" 🚨 In the aftermath of the UnitedHealth Group subsidiary cyberattack, it's clear that traditional cyber insurance isn't enough. Our latest article dives into why Integrated Risk Management (IRM) is essential for a comprehensive approach to cyber risk, especially in today's interconnected digital ecosystem. Learn how IRM can transform your organization's approach to cyber risk, ensuring resilience against an evolving threat landscape. #CyberRisk #IRM #CyberInsurance #RiskManagement #CyberSecurity #WheelhouseAdvisors https://lnkd.in/eRkSwbsB

Our Cyber Risk Thematic Review is Now Open for Submissions! We have launched our latest Thematic review. The cyber risk thematic review is now open to submissions from members and the organisations. Cyber risk is now an established risk being managed by firms employing actuaries. The review will look at how actuaries are involved in cyber risk. Including actuarial involvement in operational cyber risk and the insurance of cyber risk. This review aims to understand better where and how actuaries are involved in the management and quantification of cyber risk, and through cyber risks products which are sold to customers. Working with members, regulators and employers IFoA's Thematic Reviews ensure the IFoA's standards, guidance, Continuing Professional Development (CPD) events, and qualifications are as effective and relevant as possible, helping it to safeguard the reputation of the profession and serve the wider public interest. #CyberRisk #Actuaries #RiskManagement #Insurance #ProfessionalDevelopment #IFoA #SubmitYourInsights

How Can Cyber Insurance Mitigate Financial Risks? Find Out Now! Question: Why should companies consider cyber insurance as part of their risk management strategy? Answer: Incorporating cyber insurance into your risk management strategy is essential in today's digital landscape. It provides a financial safety net that helps mitigate the impact of cyber incidents, ensuring business continuity and stability. With cyber threats becoming increasingly sophisticated, having robust insurance coverage is more important than ever. Are you ready to enhance your risk management approach? #RiskMitigation #CyberSecurity #InsuranceSolutions #MDMarketInsights #businessanalysis#capitalmarkets #financeindustry #financialservices #investmentanalysis#TradeFloor #dataanalytics #riskmanagement #tradingstrategies #marketresearch#investmentmanagement #assetmanagement #fintech #regulatorycompliance#portfoliomanagement #derivatives #marketanalysis #financialtechnology#quantitativeanalysis #investmentstrategy #businessintelligence#financialinnovation #economicanalysis #hedgefunds #privateequity#TradingSystems #datascience #riskanalysis #financialdata

Having reliable data at hand creates transparency, enables data driven decision making, success measurement of actions taken. It is one of the cornerstones for succesfull initiatives - not only in cyber security.

May 30 | 12pm ✍️ Gain a Competitive Edge & Drive Business Resilience. To truly achieve cyber readiness, organizations must adopt a comprehensive strategy integrating cyber resilience, 3rd-party risk management, and robust cyber insurance coverage. REGISTER: ?

The recent article, “Beyond Cyber Insurance: Strengthening Risk Management Frameworks,” by Samantha “Sam” Jones in the RiskTech Journal, highlights the urgency of proactive cyber risk strategies. A software bug in CrowdStrike’s system led to significant disruptions and insured losses up to $1.5 billion, underscoring the need for more than traditional reactive measures. This incident stresses the importance of integrated risk management (IRM) frameworks to tackle the full range of digital risks. I highly recommend reading this insightful piece to enhance your risk management approach. #CyberSecurity #RiskManagement #IRM #DigitalRisk #ProactiveSecurity #BusinessResilience

Will we all implement cybersecurity protection at the levels that are recommended? The short answer is no. Cybersecurity protection is a risk management strategy. Part of running a business is managing risk - accepting what you are willing to manage and mitigating what you are not willing to manage. Purchasing insurance in a business is a similar risk management strategy. More insurance = More mitigation = Less risk = More expense. The reality in cybersecurity is many of us choose to accept this risk without truly understanding it. We think we are not a target. We think it will not happen to us. We think the MSP we know and trust is protecting us. In reality, we are accepting a risk we are not even entirely aware of.

In this article, I breakdown the key risk management strategies when handling cyber risks. Whether to mitigate, transfer, avoid or accept, well that depends on your organization's tolerance! #cybersecurity #riskmanagement

Cyber security is ranked among the top three #risks by all enterprises. Yet, the Indian insurance industry lacks dedicated #cyber professionals to underwrite cyber risks and also guide insureds in matters of cyber security risk management. ❇️Najm Bilgrami National Head for Financial Lines at TATA AIG General Insurance Company Limited. ✍️ Article written by: Anoop Khanna #Insurance #InsuranceIndustry #CyberInsurance #CyberSecurity #CyberRisk #CyberProfessionals #CyberRisks #CyberAttacks #RiskManagement