Book Image

Building a Cyber Resilient Business

By : Dr. Magda Lilia Chelly, Shamane Tan, Hai Tran
Book Image

Building a Cyber Resilient Business

By: Dr. Magda Lilia Chelly, Shamane Tan, Hai Tran

Overview of this book

With cyberattacks on the rise, it has become essential for C-suite executives and board members to step up and collectively recognize cyber risk as a top priority business risk. However, non-cyber executives find it challenging to understand their role in increasing the business’s cyber resilience due to its complex nature and the lack of a clear return on investment. This book demystifies the perception that cybersecurity is a technical problem, drawing parallels between the key responsibilities of the C-suite roles to line up with the mission of the Chief Information Security Officer (CISO). The book equips you with all you need to know about cyber risks to run the business effectively. Each chapter provides a holistic overview of the dynamic priorities of the C-suite (from the CFO to the CIO, COO, CRO, and so on), and unpacks how cybersecurity must be embedded in every business function. The book also contains self-assessment questions, which are a helpful tool in evaluating any major cybersecurity initiatives and/or investment required. With this book, you’ll have a deeper appreciation of the various ways all executives can contribute to the organization’s cyber program, in close collaboration with the CISO and the security team, and achieve a cyber-resilient, profitable, and sustainable business.
Table of Contents (14 chapters)

A Bonus Segment for Our CISOs—Purchasing Cyber Insurance

In some instances, cyber insurance is considered an alternative to internal cybersecurity controls by business stakeholders or IT managers. This is absolutely not the case. Cyber insurance is a fundamental cybersecurity control and is part of the cyber risk management process as a complementary treatment, providing further support when a cyberattack or data breach happens. It helps with liquidity and cash flow management and covers for losses that the firm might incur.

Foolproof security does not exist. By now, you are either convinced or at least bored from reading the same statement. However, it’s important to repeat it because it’s not if it happens, but when.

Cyber insurance is designed to protect businesses and individuals against risks associated with the internet and, more broadly, risks associated with IT infrastructure, information privacy, information governance liability, and related activities...