Welcome to the 2021 Confident Response Series , where we will be bringing a session every quarter to help fine-tune your incident response preparedness and understand the latest tactics, techniques, and procedures from the most successful cyber criminals, leading to deeper collaboration with business partners and mitigation of technical, legal, and reputational risks.
For the first session of the series on Ransomware Response, dive into the realities of responding to a ransomware attack with seasoned cyber security and insurance experts. This session will cover the ramifications from data theft and extortion schemes, the challenges of a third-party attack reaching your firm, and the efficacy of ransomware preparedness assessments. Panelists will be available for a live Q&A following the session.
Associate Managing Director,
Cyber Product Head, Asia Pacific
Senior Vice President,
This week, we hosted the first of our Confident Response Series with focus on Ransomware Response. Here are some points highlighted by speakers from Kroll & Chubb during last Wednesday’s discussion:
- A common mistake businesses make is treating Cyber Incidents as ‘just an IT problem’. Key decision-makers must understand that cyber risks are now enterprise-wide risks, a message that risk managers must continue to communicate.
- Crisis management teams must have everything in place and ready to be rolled-out before an attack happens. Crisis simulations, policies, communication trees and a centralised response should be stress-tested beforehand to prevent creating more chaos in the process.
- Several of the heavier considerations on cyber risk insurance pricing are the level of the organisation’s risk awareness, governance & support of the senior management, how the business had previously responded to incidents and if they belong to industries which are top cybercrime targets.
The panelists also shared their experience in response to questions from the audience on the most appalling mistakes that businesses make after a ransomware incident.