What are your risk managers thinking about?

Good security controls can cut insurance costs. Well-written insurance policies require cooperation among risk managers and security pros.

Security looks at operational risk, but most big companies have officers called risk managers who actually buy insurance policies for the company. What's on their minds? If you run a security operation, you should know, because your work and their work are intertwined.

CSO contributor Bob Violino recently spoke with Christopher Taylor, head of Zurich North America Commercial's Financial Institution segment, about issues related to security threats, corporate risk and insurance.

CSO: What are some of the top threats companies are concerned about today?

Christopher Taylor, Zurich NA: Based on a blind survey we did earlier this year of financial institutions, among their top concerns are:

  • security and privacy;
  • the impact of increasing regulations on the direction and offerings of the organization;
  • all issues surrounding repossessed real estate [given the increase in real estate foreclosures];
  • and enterprise risk management, or how events such as changes in the economy could threaten their entire organization.

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