At Axio we’ve been good boys and girls, helping our clients improve their cyber resilience and achieve better insurance outcomes by determining their cyber risk posture, quantifying loss outcomes and economic loss reduction in addition to successfully graduating from the Lloyd’s Lab with our new Cyber Physical Damage (CZ) assessment and quantification platform. So here’s what we’d like for Christmas:
In less than a month, the SEC’s new cybersecurity mandates go into effect for all publicly-traded companies. As the December 15th “go live” date rapidly approaches, we are closely watching any public companies that fall victim to a security event and how they respond. Since the formal SEC announcement earlier this year, companies have struggled to grasp what the SEC is specifically looking for and how the regulators will enforce these requirements in practice. We have already seen a half dozen events take place during this “rolling start” period between the announcement and the December 15th deadline, with targeted companies taking varying divergent approaches in navigating these new rules.
In today’s business climate CFOs must understand and communicate how cyber risk translates to dollars and cents. This challenge arises during discussions about cybersecurity budgets, leading to potential confusion. And there are many voices in the room competing for cybersecurity spending dollars.
The following is a webinar takeaways blog that featured David White, Axio President and Yousef Ghazi-Tabatabai, Director PwC UK. Moderation provided by Jennifer Moll, VP of Strategy, Axio
Our recent roundtable webinar, titled “Boardroom Insights: Unveiling C-Suite Perspectives on SEC Cyber Rules Impact,” brought together industry leaders to discuss the implications of the Securities and Exchange Commission’s (SEC) cybersecurity disclosure rules.
On October 18th, 2023, at 11 AM EDT, we will be hosting a roundtable discussion titled “Boardroom Insights: Unveiling C-Suite Perspectives on SEC Cyber Rules Impact“. This event aims to shed light on the new SEC cyber disclosure rules and the confusion and uncertainty surrounding these regulations, especially regarding the reporting of material cyber incidents. These rules are currently in the spotlight due to recent cyber-attacks and the negative financial impact on the victims. The discussion will focus on finding a pragmatic solution to achieve compliance and bridge the gaps across multiple organizational domains.
Innovative Solution Drives Increased Confidence in Cyber Decision-Making for Information Security Professionals, C-Suite Executives, and Board of Directors
The reported cyber-attack on the Discovery Bay Water Treatment facility highlights the alarming motives behind such attacks and the potential risks they pose to public health and safety. Integrating cyber insurance into risk management strategies is crucial for organizations within the national infrastructure arena. Axio provides advanced tools and expertise to accurately assess and quantify cyber risks including those resulting in physical damage to people and/or property, enabling effective decision-making and ensuring the continuity of essential services.
Innovative Solution Helps Critical Infrastructure Organizations Understand Cyber-Physical Damage Risk and Offer Sustainable Coverage for Exposure
The Oldsmar cyber-attack will stand as a reminder of the vulnerability of critical infrastructure systems, and the potential for widescale physical harm coming to communities via a threat vector traditionally only associated with data breaches and credit card fraud. The incident, which occurred in early 2021, saw threat actors set their sights on a seemingly innocuous target: the water treatment plant in Oldsmar, Florida. This attack showcased the potential consequences of lax security measures, highlighting the urgent need for robust defences to safeguard essential services.