“The analyst firm [Gartner] expects liability for cyber-physical systems (CPSs) incidents will pierce the corporate veil to personal liability for 75% of CEOs”. By 2024 the report predicts 75% of CEOs will be personally liable for cybersecurity incidents. This means that insurance policies will no longer be able to cover the costs and damages related to a cyber incident. CEO personal liability will lead to significant financial and reputational repercussions in the event of a cyber incident.
In part 1 of this blog series we discussed compliance firefighting. We mentioned that a proactive approach can reduce the amount of fires and save costs in the long run. In this part we’ll dive into the details and show how you can produce better security as an output from your compliance efforts.
We’re excited to welcome Eric Cardwell to our Axio management team as the Director of Cyber Risk Engineering. He will be responsible for addressing cyber risk requirements for industry clients, identifying government and trade association contracts, and driving innovation in the advancement of security and financial controls across the energy and utilities sector.
During this back to school season, many education departments and universities have opted for remote learning or hybrid learning. This should not be an unfamiliar experience, per se. Even before the pandemic, there was a noted upward trend in distance learning. In 2019, 46% of faculty members said they have taught an online course for credit compared to a 39% in 2016. A year ago, nobody could have predicted the immense scale of adoption the country is experiencing now. Protecting students and staff’s personal information has become of utmost importance with such an increased attack surface for adversaries to take advantage of, such as laptops, tablets and other connected devices.
A number of our clients have asked us how to leverage the NIST Cybersecurity Framework (NIST CSF) to address work-from-home cyber risk. Considering the global prevalence of remote work well into 2021, the concern deserves attention and can easily be addressed in the Axio360 platform. With these continued and dramatic changes in the work environment, it’s more important than ever to be prepared for a complex and expanded cyber-attack surface.
This is a bonus piece to our series on continuous cyber improvement. We’ll be going through a case study featuring a client that utilized Axio360 to improve their cybersecurity risk management program.
Critical infrastructure is a clear target for cyber adversaries. It includes all assets necessary to keep a society functioning, such as our power grid and water systems, which are vital to the well-being of citizens, the community and the economy. The energy sector is heavily interconnected and an attack on the power grid can leave a significant impact. Adversaries’ attempts on OT systems enables them to use technology to carry out a physical attack that can impact national security. Cyber-attacks on our critical infrastructure have accelerated during COVID-19, leading to an increased implementation of standards like NERC CIP. Scrambling to comply with standards like NERC CIP, organizations often find themselves compliance firefighting.
Some of the common questions we encounter while building cybersecurity programs for organizations include: What is the NIST cybersecurity framework exactly? What do the functions of the NIST CSF help us achieve? How does one develop the NIST cybersecurity framework roadmap?
This blog post was originally published in August 2020 and therefore is focused on v1 of NIST CSF. It serves as a strong primer on the framework.
As one of Axio’s first core team members, Brendan Fitzpatrick has been involved in the evolution of our expert methodology. He has served many crucial roles, including helping guide new features for the Axio360 platform, leading the sales team, and now launching our global partner program. We are very pleased to have Brendan as our guest this week.