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Got cyber insurance? Share your thoughts to lead security change

Mar 20, 20173 mins
IT LeadershipTechnology Industry

As we kick off the next leading security change, I want to know what you think

Credit: Thinkstock

Does your organization have a cyber insurance policy?

Chances are you either have a policy or are exploring one. Since insurance tends to be handled by risk managers (often independent of traditional security teams), were you involved? Do you know what it covers and how it helps? Based on what you know, do you think it’s worth it?

Confusion swirls around the broad terms of cyber, insurance, and risk. Despite a tendency to overlap, each has a bit of jargon. That leads to uncertainty about the role of cyber insurance to reduce risk. It even causes some to openly question if the purchase of an insurance policy suggests failure on the part of the security team.


Insurance has a proven history of managing risks

Often leading the way to create solutions to challenges deemed unsolvable. In simple terms, insurance transfers the risks of high impact, low likelihood events from a single person or organization to an entire group. By spreading the risk out across a broad pool, the impact from a risk is lowered for everyone. At least that’s a classic approach to insurance.

The world is a bit more complicated

That means insurance products, risk management, and security models need to find new ways to come together. We need to look for ways to simplify our risk discussions inside our organizations. I dubbed this the “one risk discussion.”

Insurance plays a key role in how we reduce risk in our organizations. The right products and policies even offer security leaders benefits hard to get otherwise. Did you know that?

That’s why we’re tackling the topic of Cyber Insurance for the next Leading Security Change

Leading Security Change: Cyber Insurance

We’re going to learn from three experts representing security leadership, risk management, and the carrier perspective. The approach is evolving, too. In addition to the expert perspectives, look for a slideshow, summary article, and even a bonus package for INSIDERS.

The point of this effort is to provide you with insights needed to get involved and make better decisions. That means trying something new. It starts with you.

Your voice matters. Here’s why.

While I have experience and insight into the insurance industry, my questions may not be the same as your questions. Our experience is different. I want to find out what you think, what you know, and what you want to know. And then I can use that to guide a better series.

Mostly, I want to make sure we answer your questions.

Invest a few minutes today to get bigger benefits tomorrow

To focus the series, I built a short survey of 5 multiple choice and 3 open-ended questions. In testing, it takes about 3-5 minutes to fill out. It’s short and focused by design.

We’re not tracking individual responses. While this is a non-scientific poll, your answers guide the series. I’ll share the results as part of the program. That way you can see how you matched up. Maybe even use the findings to support your own efforts.

Here’s the link for the survey:

Don’t wait. Go ahead and get yourself setup for success.

Anything to add?

This is a series designed to provide the support needed to lead security change. Cyber insurance is a big, interesting topic. If you have a specific challenge, concern, comment, or question to share that isn’t covered in the survey, drop me a note.

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