What Is Cyber Risk Management

Understanding Cyber Risk Management Better

What is cyber risk management?

Cyber Risk BusinessRiskTV provides training for executives

Guide To Cyber Risk Management

Tailored cyber risk management training for executives

Cyber risk experts will create bespoke cyber risk management training course for your executives or attend Cyber Risk BusinessRiskTV online courses.

Develop the cyber risk knowledge and risk management skills to assess the risk to your company or enterprise and decide on suitable cyber risk controls.

Develop your corporate cyber risk management capability to protect against financial loss and brand reputation damage.

Increase your awareness of the risks to your business after attending one of Cyber Risk BusinessRiskTV executive training courses.

International Cyber Risk Management Conference ICRMC Bermuda December 2018

Luke Dembosky, former Senior DOJ Cyber Official to Keynote Bermuda International Cyber Risk Management Conference. Dembosky will share top cyber incident preparation and response strategies drawing on 16 years on the front lines of high profile cyber incidents including while at the US Department of Justice.

International Cyber Risk Management Conference ICRMC Bermuda December 2018
Register for International Cyber Risk Management Conference in Bermuda in December 2018

Mr. Dembosky joins a set of world-class cyber leaders that will be speaking at the event including Silicon Valley and Wall Street CISOs global cyber leaders from insurance and industry along with regulators and technology trailblazers with an eye on cyber security.

Register now early bird deadline is September 30 2018. Book now to get a massive discount if you are interested in cyber risk management.

Risk Management Online members get an extra 10% OFF if you quote code RISKTV when booking.

Register International Cyber Risk Management Conference Bermuda December 2018
Register International Cyber Risk Management Conference Bermuda December 2018

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We work in collaboration with other business risk management experts around the world to help solve corporate risks and below is risk information to help you understand part of the solution for cyber risk management – cyber insurance.

Cyber Risk Risk Management Solutions Cyber Insurance

Neil Gurnhill CEO Node International Explores Cyber Insurance To Protect Businesses Better

Business Activity Risk Profiling VS Scaremongering Will Increase Your Cyber Insurance uptake

The key to engaging with a potential client to discuss and provide cyber-risk insurance is to approach the discussions from their real business activities’ needs rather than any generalised knowledge they have gleaned from recent cyber-security threats or events reported in the national broadcast and newspaper media.

For example, most retail brokers engage too early in conversations about ‘hacking’, ‘denial of service’, ‘phishing’ and ‘social engineering’ and such like. As important as these topics are, it can often lead to a conclusion that the potential client has not been directly affected by these matters to date, therefore, they don’t need cover. Don’t forget the basic premise of insurance – it provides security for the future!

Our extensive experience at Node International, particularly in the USA and Europe, clearly tells us that the correct, and more successful approach is to start with an evaluation of the potential clients business activities.

For examples each of these activities has a cyber-risk profile so even though the potential client has not dealt with (say) a denial of service attack, the fact that over 80% of their business depends upon an ecommerce website highlights the substantial cyber-risk. Or they are highly dependent on a supply chain and/or contractor, of which they know little about their cyber-risk policies, again highlighting their potential cyber risk through the failures of others.

Taking this business activities profiling approach is a very logical systematic approach that engages the potential client. It is also quite simple to conduct. Start with a conversation about ‘mapping’ the high priority business activities and start introducing the question, ‘’What happens if…’’ Think of it as an ‘heat map’ of the business. When viewed overall, the client then sees the totality of cyber-risk they face. Then, the most effective cover can be assessed and priced accordingly.

It’s important not to think of early conversations as ‘selling cyber-insurance’ but providing an expert and value-added service to the clients. It is likely that they know very little about cyber-security and cyber-risk so building up the ‘heat map’ though sensible discussion helps the client. Nowadays, ‘helping the client to buy’ is far more effective than ‘selling’.

This is where Node International scores highly. As a wholesale broker and underwriter at Lloyds of London you can tap into our expertise and assistance. For example, by talking to one of our brokers before you go and see a client could help you tremendously. Even if you have never used Node International before, our brokers and underwriters are here to help you build your business.

Finally, lets step back a little. In the last two decades there has been a huge increase in businesses that are now dependent upon their technologies and digital capability. And, of course, the constant threat scenarios they face each day. From our experience, literally 99% of modern businesses (from small to large across all sectors) face at least one cyber-risk in their ‘heat map’. In effect, every business call you make is a potential satisfied client providing you approach it correctly and have a ‘value-added service’ at the forefront of your mind. As mentioned before, we can assist you with this essential skill.

Contact Neil Gurnhill, CEO Node International for more help with Cyber Insurance

Email – neilg@nodeinternational.com
Direct line – 02033 208983
Tel – 07823 888413
Lloyds Chambers, 1 Portsoken Street, London, E1 8BT

BusinessRiskTV Understanding Cyber Risk Management Better