Hack Day: Getting to grips with Cyber: What do you need to know?

IA Hack Day - Getting to grips with cyber

Catch up with our webinar which outlines all the building blocks you need to fully understand cyber security issues.

There is still a lot of education needed with small and medium size businesses when it comes to cyber security.

Too many still feel cyber-attacks will not happen to them or do not fully understand the consequences of an attack.

This was the recurring theme of the live webinar tackling the challenge of “Getting to Grips with Cyber: What do you need to know?”

“We hear a lot of ‘it won’t happen to me’”, said Ian Bird, director, Solutions Architects Europe, Middle East & Africa, Cyence.

Under estimate
He said that they completely under-estimated the consequences of an attack on the cloud services they are reliant on. There is a very significant business interruption risk.

Smaller firms are very naive about the threats they face and the consequences of dealing with them, said Andrew Jenkins, operations director, Russell Scanlan.

“It is becoming a very opportunistic crime. People are looking to exploit any vulnerability”.

They under-estimate the huge amount of work involved in recovering from a minor phishing attack, especially the amount of specialist expertise that is needed.

Access to expertise
Danielle Meldrum, head of product development, commercial lines UKGI, Aviva, said the access to expertise was important and part of the proposition being developed alongside cyber cover by insurers. She said overcoming the fear of the complexity of cyber cover was important: “There is definitely a need to use simple language. We need to make it easier for brokers to explain to clients what over is available”.

Businesses need to play their part too, said Alastair Murray, cyber expert, The Bureau.

“Firms must be prepared to identify the individual risks they are exposed to because they must develop some form of defence against all the risks”.

He said that firms would need to develop a “cyber culture” in which everyone was aware of the risks and how they should work to reduce the threats.

 

Panellists:

Andrew Jenkins, operations director, Russell Scanlan
Alastair Murray, cyber expert, The Bureau
Danielle Meldrum, head of product development, Commercial Lines UKGI, Aviva
Ian Bird, director, Solutions Architects Europe, Middle East & Africa, Cyence

This session was moderated by Jonathan Swift, content director, Insurance Post, Insurance Age

This panel session will soon be available on demand so check back shortly.

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