Cyber liability is no longer just an IT issue. It is a strategic business risk. Companies can no longer assume that it is merely sufficient to hire competent IT professionals and not take any further action themselves.
From the risk manager's perspective, enhanced boardroom scrutiny of the company's cyber risks may bring some welcome senior management support, but it may also pose some tough questions about the organisation's understanding of its exposures.
This article looks at how risk managers can make the case for buying cyber risk insurance to the board.