cybersecurity

European risk experts have called for organisations to create dedicated internal cyber risk governance groups to address digital risks across the whole enterprise as the threats evolve
The latest cyber attack illustrates that the management of cyber risks should be an enterprise-wide project directed from board level within a sound governance framework...
European risk experts have called for organisations to create dedicated internal cyber risk governance groups to address digital risks across the whole enterprise as the threats evolve
The Risk Manager must be responsible, as for others risks, for the quantification aspect of cyber security. It is a necessary step towards understanding and managing the exposure of the company. He/she should act as a facilitator between the Board and the operational department (IT, Finance, Legal and other functions).

Philippe Cotelle, Head of Insurance Risk Management at Airbus Defence and Space, describes the development of a response methodology to create resilience against cyber risks.

There are three main obstacles to a good understanding of cyber risk

The following speech was delivered at a conference on cyber risks at the European Parliament on 23 February 2016.

FERMA Jo Willaert

Cyber security requires an enterprise-wide approach, and the risk manager’s role is to help the company achieve effective, data-based enterprise risk management, the Federation of European Risk Management Associations (FERMA) has told the European Commission.
The good management of data is now an essential part of the business model of many organisations. But with new dependencies linked to the increased use of external hosting, collection, treatment and transfer of data, it is also posing heavy challenges legal, IT and strategic issues.
French and British initiatives are taking the role of insurance for cyber risks into account in their national strategy for cybersecurity.