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The business case for applying GDPR-level data governance across regions

The European Union’s General Data Protection Regulation (GDPR) is upon us, becoming enforceable on May 25, 2018. It’s no exaggeration to say that achieving compliance (as well as being able to demonstrate compliance) requires that companies make a fundamental shift in how they approach data governance. Companies worldwide are struggling with the magnitude and scope of the GDPR; however, those that get data governance right can reap significant benefits.

Topics: risk management cyber risk Data Security gdpr

What should risk, insurance, claims, and safety leaders be doing to prepare for GDPR?

The European Union’s sweeping new privacy law—the General Data Protection Regulation, or GDPR—is the farthest-reaching data privacy law in the world. It becomes enforceable on May 25, 2018.

Topics: risk management cyber risk Data Security gdpr

Now is the time to manage your cyber risk

Over the last several years, the increasing sophistication of cyber attacks has left the risk management industry at something of a loss as to how to keep up. The types of attacks and hacks might continue to change, but businesses are slowly coming to grips with their vulnerabilities and putting cyber risk at the top of the agenda. The challenge now is implementing solutions as part of the risk management plan.

Topics: risk management cyber risk Data Security

Ransomware – are you managing the IT risks?

The latest cyber- attack, using ransomware in partnership with a worm, has caused havoc across the globe, with Russia, Spain and the UK thought to be the most affected. Europol estimates there are 200,000 victims in 150 countries, although this figure is likely to rise.

Topics: cyber risk Data Security

Cyber Exposure – Are You and Your Risk Management Systems Prepared?

I just read a well written article on the intersection between Cyber risk and Property risk.

Topics: cyber risk

What I learned moderating a panel at Business Insurance’s Cyber Risk Summit 2015

On Monday, I had the honor of moderating the first breakout session at Business Insurance’s Cyber Risk Summit 2015 in San Francisco. More than 100 people (most of them risk managers) attended the session, which in this moderator’s humble opinion was an eye-opening look at cyber security and what risk managers need to know today about mitigating cyber risk. In this blog post, I’ll share the key points covered in the session and how they apply to risk, claims and safety managers.

Topics: cyber risk Updates & Viewpoints Conferences

How Cyber Risk Might Impact Insurance Decisions

There is a sort of ominous saying that has been passed around IT circles. The saying goes that you either have already had your data breached or you are just still unaware that your data has already been breached. This might seem a bit dramatic, but it also might not be far from the truth for many companies who remain blissfully unaware of the threat of cyber risk. 

Topics: cyber risk

Cyber Risk Management: How Ventiv Utilizes Private Cloud Technology

Cyber risk management has become a growing focus of today's risk managers. Even large and established companies have made the news because of recent data breaches. Besides the serious threat of lost data and business interruption, the news of a data breach can do serious damage to a company's reputation. Taking cyber security for granted could be a very costly mistake for your company.

Topics: cyber risk Data Security

Not everything’s negotiable: What risk managers need to know about cloud contracts

If you’re a risk manager taking on greater responsibility for cyber risk management, I think you’ll benefit from reading this helpful primer on “Negotiating Cloud Contracts.” Even if you’re not negotiating new cloud agreements at this time, the article will help you understand some of the key concerns inherent in cloud-based business solutions.

Many of the points made by the authors of “Negotiating Cloud Contracts” (it was written by three lawyers from the firm of Morrison & Foerster) echo important concerns that I frequently talk about with risk, insurance and safety managers. I’d like to discuss a few of those topics in this blog.

Topics: risk management data security and privacy cyber risk