Cybergovernance Journal Update – 11/4/16

by | Nov 4, 2016

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As cybersecurity of digital infrastructure becomes increasingly vital, spreading risk around continues to be slowed by an ever-changing cyber threat landscape.

Advisen Cyber Risk Conference: Trends and Observations

Cybergovernance Journal, Oct. 31
I wrote this on the plane home after a week in New York that included attending Advisen’s Cyber Risk Insights Conference. These topics and tidbits represent a collection of things we heard there. They are offered in no particular order, and in no way characterize the breadth of topics covered by the conference, but hopefully you will gain a flavor of the conference…

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Boards Push Insurers to Quantify Cyber Risks

CFO, Oct. 31
Laura Winn, the director of risk management and treasury at Time, said the media giant’s board considers attacks on the company’s computer systems a “top three risk,” with lawsuits against its directors and officers another one she mentioned. Prompted by the board, the company’s risk management department is working to quantify the company’s exposure to cyber attacks so that it can transfer some of the risks to insurers…

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Changing Cyber Risk Landscape Hard to Tackle

Wall St. Journal, Oct 28
“The identities and tactics of hackers are constantly changing, which has also made it hard for the insurance industry to provide sufficient protection. “It limits the ability of the…industry to bring capital to market,” said Dominic Casserley, president and deputy chief executive of Willis Towers Watson…

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Regulators Release Advanced Notice on Enhanced Cyber Risk Management Standards

Lexology, Nov. 1
Some of the critical leadership roles and business units that will be impacted include i) Members of the Board of Directors; ii) the Office of General Counsel; iii) Risk Management; iv) Internal Audit; v) the Chief Privacy Officer, Chief Information Security Officer and the Chief Technology Officer…

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REPORT: 75% of Healthcare Industry Hit with Malware

SC Magazine, Oct. 31
Millions of patients could potentially be put at risk, especially as the healthcare vertical ranks 15th out of 18th as a target of social engineering attacks. The study examined 700 healthcare organizations including medical treatment facilities, health insurance agencies and healthcare manufacturing companies…

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Internal Audit Chiefs Gain in Clout, Compensation

WSJ, October 24
As boards worry more about cyberattacks, regulatory compliance and personal liability, these executives are gaining clout and commanding higher pay. This year, for the first time, the proportion of audit leaders who report to their chief executive matched those overseen by the chief financial officer…

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