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Data Breach Summit & Training

Chicago, IL | Mon, Sep 25, 2017 - Mon, Oct 2, 2017
This event is over,
but there are more training opportunities.

Debunking the Myths about Cyber Insurance:How Security and Cyber Insurance are Actually Hitting It Off

  • Scott Kannry, CEO, Axio
  • Monday, September 25th, 6:00pm - 7:30pm

There are many myths when it comes to cyber insurance and the role the insurance industry plays in a holistic cyber resilience strategy. Insurance has not always been popular among the security community, however, to reduce cyber risk across the organization, security leaders are looking at cyber insurance as a key consideration in the overall cyber security strategy. In this session, we will debunk the common myths and focus on realities of cyber insurance and the positive role the insurance industry plays in managing cyber risk and supporting a holistic cyber resilience strategy.

- Myth: Cyber insurance policies force dubious security requirements and thresholds

- Reality: False; The current insurance marketplace features nearly 75 providers of coverage, the vast majority of which do not feature such terms.

- Myth: Cyber insurance policies don't pay claims.

- Reality: False; most cited claim denial cases are cherry picked and sensationalized, or flat out misrepresented. Cyber policies have a strong track record of paying claims for all industry classes for losses such as forensics expenses, incident response costs, business interruption losses and bricked technology assets.

- Myth: The only firms that invest in cyber insurance are those that are not confident in their cyber security; it's an admission of failure.

- Reality: Firms that purchase cyber insurance view it as a valuable financial control to effectively complement their traditional control set. How many security leaders set aside hundreds of thousands per year in a "rainy day" fund to pay for forensics and incident response?

In this session, we will walk through a real-world scenario in which an organization in the critical infrastructure space successfully partnered with the insurance industry to achieve its intended insurance coverage and make cyber program and organizational improvements to support the security leaderās strategy.

Axio

Bonus Sessions

The following bonus sessions are open to all paid attendees at no additional cost. There are many different types of events that fall into these categories:

  • SANS@Night: Evening presentations given after day courses have ended. This category includes Keynotes.
Monday, September 25
Session Speaker Time Type
Debunking the Myths about Cyber Insurance:How Security and Cyber Insurance are Actually Hitting It Off Scott Kannry, CEO, Axio Monday, September 25th, 6:00pm - 7:30pm SANS@Night