Great discourse Lilian. The impact of cyber threat can be disastrous and paralyze from small businesses to large conglomerates and entire industries. In fact, well-orchestrated cyber-attacks can shut down economies of small vulnerable countries. Education and strong cyber security infrastructure is critical to minimizing and ultimately eliminating the adverse impact of such eventuality. It is important to develop the robust response capabilities and communication plan to maintain the confidence of key stakeholders and to minimize resultant losses including financial, reputational and even loss of lives. The latter, based on the industry in question, is often overlooked. Cyber security insurance not only offer some measure of risk mitigation and coverage for certain events but also raises much needed awareness of this existential threat and how organisations can protect themselves.
Thanks for sharing.