Risk Management

Managing Cyber Risks

Cyber Risks are an increasing area of concern for Businesses and gradually Insurers are putting together policies that will suit this area. Although not a complete solution is offered from Insurers, you can now obtain specific cover on Cyber Risks, additional sections to a Management Liability policy with some insurers and also Multi-media Liability policies.

However, prevention is better than cure and this section aims to provide tips and advice about controlling and reducing your risks.

Targeted cyber intrusions are the biggest threat to Australia’s ICT systems (Department of Defence, 2012). Intruders are looking for information on business dealings, intellectual property and scientific data.

The Defence Signals Directorate (DSD) has developed a list of strategies to control and diminish targeted cyber threats. The strategies are based on analysis of incidents across the Commonwealth Government, and provide one of the best guides for small business owners to avoid intrusions.

The key message of the list is that at least 85% of targeted cyber intrusions that the DSD responds to could be prevented by following the top mitigation strategies:

  • Catchmalicious software using a whitelist.
  • Patchyour operating systems and your applications.
  • Matchthe right people with the right privileges.

For more information about how to mitigate cyber threat in your business, visit the Department of Defencewebsite 

Click on the following links for more information.

Read about it here

Advisen's Cyber Liability Journal Q2 2012

2012 the year of the Cyber Attack

Perils of the Digital World

Hacking

Cyber risks - the new frontier here

Even the US Defence Systems are vulnerable to hacking - Cyber Security

 US Companies keeping Cyber Security Breaches secret

Best Passwords for being Hacked for 2011

Sony's Cyber Attack and the Privacy Act

Online Shopping Delivers greater Retailer Risk

Hackers Publish Turnbull's Credit Card Details

Zappos Says Customer Database Hacked

Just how serious was the Zappos Breach?

2012 will be even greater for Cyber Risks

Cyber Risks Insurance expected to Boom

Polish Government Websites Attacked

 

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