Cyber criminals can strike at any time but when you are vulnerable, how will you respond? Has your organization assessed the risk and crafted plans to address the gaps?
This webinar provides a recap of cyber loss trends and examine a crippling cyber loss, where the losses extended beyond the destruction and distortion of data, causing interruption of network-dependent business and production to shut down.
It will also outline how a broad cyber risk assessment & mitigation and addressing the fundamentals of cyber security remain the best defense against the majority of attacks.
Enterprise Risk Manager, Asia Pacific
The panel shared with risk managers what additional steps can organisations take to mitigate the loss caused by a cyber attack. shared with risk managers what additional steps can organisations take to mitigate the loss caused by a cyber attack.
With network security being more vulnerable as many employees are on a work from home set-up, the threat of a cyber attack is growing ever more rampant. Aside from the financial impact, it costs the business its reputation and their clients’ confidence, which is non-insurable and causes long-lasting losses.
The presenters emphasized the importance of fortifying cyber security from multiple angles: physical security, information security and industrial control systems. They also highlighted the value of employee training, securing endpoints, multifactor authentication and network segmentation in preventing & delaying the spread of malware.
Some questions from risk managers: Many IT activities are outsourced; how can we ensure that our providers are providing the right risk management services? Are there contractual obligations in transferring risk to third-party IT Security providers, or would the overall risk stick with the asset owner?
Business Risk Consultant, Asia Pacific
Jeffrey is a member of FM Global’s Business Risk Consulting (BRC) team in the Asia Pacific region. BRC services take a strategic approach towards helping clients identify the critical processes that drive their businesses and quantify dependencies on those processes. Through Business Impact Analysis (BIA), BRC helps clients to better understand the financial exposures to their businesses, to strengthen business resilience and develop effective risk management strategies.
Jeffrey joined FM Global in September of 2018. Prior to joining FM Global, Jeffrey was a Risk & Compliance Manager in the Group Finance department of The Great Eastern Life Assurance Company Limited, where he specialised in business process improvements and developing risk strategies. Prior to Great Eastern, Jeffrey served as a Corporate Improvement Manager in a publicly listed supply chain management company. He also had experience in performing financial statement audits in a range of industries, during his stint as a Senior Assurance Associate in Deloitte.
As a member of the Business Risk Consulting Group, Jeffrey is primarily responsible for conducting Business Impact Analysis, working in partnership with FM Global clients, to fully identify and quantify the client’s financial exposures as they relate to property and business interruption loss potential. The analysis Jeffrey performs often result in the identification of significant exposures that were previously unknown or not fully understood by the client, which potentially has a material impact to risk management decisions.
Jeffrey holds a Bachelor of Accountancy degree from Nanyang Business School, Nanyang Technological University of Singapore. He is also a certified Chartered Accountant.
Asia Complex Loss Director
Guido Gavio is the Asia Complex Loss Director for BELFOR Asia. He has more than 22 years of experience in handling restoration projects for companies suffering from losses after a disaster. He joined BELFOR Asia, then known as Relectronic – Remech as a Restoration Engineer in Australia in 1996. He rose through the ranks and was seconded to Thailand for 3 years from 1998 to 2001 before being posted to the regional Headquarters in Asia in 200
Guido studied electrical engineering at the Universidad Technologica de Buenos Aires in Argentina. Upon graduation, Guido worked at the National Institute of Industrial Technology assisting with research programs in the area of superconductors where he gained considerable hands – on experience in developing and building prototypes. Guido then migrated to Australia where he worked for Telstra in the design and construction of the cable and internet network.
Upon completion of the Telstra project, Guido joined Relectronic – Remech. BELFOR Asia has the capability to recover buildings, production lines and other property, following disaster incidents such as fire, explosion, earthquake, typhoon, wind, flooding, rain, water ingress, chemical spills etc.
The company has maintained the market leader position for disaster recovery in Asia for the past 25 years, and is now handling more than 1,600 industrial disaster incidents per year.