Cyber Risk Management
Cyber Risk Management and Information Security, Above all Else
Cyber risk has become one of the most significant corporate threats, according to a comprehensive report of Internet threat data.
According to the same report, almost 50% of companies incurred significant financial damage as a result of systems failure in the past 12 months, while 40% suffered financial damage as a result of cyber-crime such as hacking and phishing over the same period. More than 85% of executives surveyed now see cyber risk as a high or very high risk to their business.
Information technology has already had a huge impact on firms and its role is set to increase rather than diminish in the years ahead. Organizations that are serious about understanding how cyber failure can impact their business will need to determine precisely how the cyber and risk functions work together in managing the issue. Chief Risk Officers that don’t have cyber on their risk portfolio already will increasingly have to take it into account in the future.
As a failure to have the right information at the right time and at the right place can be disastrous, L&A can help you to apply risk management to a range of cyber planning issues, such as technology evaluations, business continuity, and system/network security.