Join Peter Hedberg, a senior underwriter at Corvus, Maury Haber, Chief Security Advisor at BeyondTrust, and Stephan Jou, Senior Director of Security Analytics at OpenText, as they dive into the complexities of cyber insurance and CISO empowerment. They discuss the record-breaking vulnerabilities in Microsoft's software and how organizations can address these risks. The conversation also highlights the evolving role of CISOs in integrating cybersecurity with corporate governance and the necessity for collaboration with underwriters to manage emerging threats effectively.
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insights INSIGHT
CISO Involvement Boosts Insurance Outcomes
CISOs who actively engage in the insurance application process and provide detailed, nuanced answers are generally more empowered within their organizations.
This involvement signals a mature security culture that positively impacts underwriting decisions by insurers.
question_answer ANECDOTE
Ransomware Changes Security Culture
Companies hit by ransomware often shift their view of the CISO from a cost center to a crucial protector of the company's existence.
This realization leads to more sober and realistic security postures that insurers find favorable.
volunteer_activism ADVICE
Leverage Scans to Set Premiums
Use external scans during underwriting to assess real security controls and adjust premiums accordingly.
Reward good security practices with better rates, and decline business that fails to improve after incidents.
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In this episode of Business Security Weekly, Mandy Logan, along with guests Peter Hedberg, Summer Craze Fowler, and Ben Carr, delve into the complexities of cyber insurance and the empowerment of Chief Information Security Officers (CISOs). The discussion covers the evolving landscape of cyber insurance, the critical role of underwriting, and the importance of collaboration between CISOs and insurers. The guests share insights on risk assessment, the significance of incident response planning, and the need for CISOs to be recognized as key players in the boardroom. The conversation emphasizes the necessity of building strong relationships with insurers and leveraging data to enhance security measures.
Stephan will discuss OpenText Core Threat Detection and Response, a new AI-powered solution designed to quickly spot and neutralize threats across an organization’s attack surface without the need to overhaul existing security stacks. He will also provide insights into the most dangerous threats facing enterprises today along with practical steps to mitigate them.