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 European Commission estimates at least 80% of businesses have experienced a cybersecurity incident in the last year. In 2018, FERMA has published three reports to support risk professionals and insurance buyers in dealing with cyber threats and understand risk transfer options:  Preparing for Cyber Insurance, a practical guide; a new edition of the Cyber Governance Report and a report containing presentations and interviews from the 2018 FERMA Seminar.
In line with its consistent efforts to develop and promote innovative thinking on cyber risk management, the Federation of European Risk Management Associations (FERMA) has joined the ‘Paris Call for Trust & Security in Cyberspace’ made by French President, Emmanuel Macron, on the 12th November 2018. The Call took place during Paris Digital Week (11-14 Nov) and gathered three international events.

In this interview done at the FERMA Forum in October 2017, FERMA board member Philippe Cotelle, also Head of Insurance Risk Management at Airbus Defence and Space, explained how the risk managers can accompany their organisations in securing cyber resilience and make the best out of the huge opp

Which governance to adopt to implement a cybersecurity methodology, integrating the entire production chain of the company?
FERMA welcomes the publication today of the report from the European Union Agency for Network and Information Security (ENISA) “Commonality of risk assessment language in cyber insurance” but regrets that the clients’ perspective is missing
The European Commission has adopted a series of measures to increase the cyber protection of European industries and citizens including a Cyber Security Agency and EU cyber certification scheme.
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.