Cyber risk is the second highest perceived business risk according to U.S. risk managers and corporate insurance experts. Digital assets now represent over 85% of an organization’s value. In a survey of Fortune 1000 organizations, 83% surveyed described cyber risk as an organizationally complex topic, with most using only qualitative metrics that provide little, if any insight into an effective cyber strategy.
Written by one of the foremost cyber risk experts in the world and with contributions from other senior professionals in the field, Managing Cyber Risk provides corporate cyber stakeholders – managers, executives, and directors – with context and tools to accomplish several strategic objectives. These include enabling managers to understand and have proper governance oversight of this crucial area and ensuring improved cyber resilience. Managing Cyber Risk helps businesses to understand cyber risk quantification in business terms that lead risk owners to determine how much cyber insurance they should buy based on the size and the scope of policy, the cyber budget required, and how to prioritize risk remediation based on reputational, operational, legal, and financial impacts.
Directors are held to standards of fiduciary duty, loyalty, and care. These insights provide the ability to demonstrate that directors have appropriately discharged their duties, which often dictates the ability to successfully rebut claims made against such individuals. Cyber is a strategic business issue that requires quantitative metrics to ensure cyber resiliency. This handbook acts as a roadmap for executives to understand how to increase cyber resiliency and is unique since it quantifies exposures at the digital asset level.
Table of Contents
Part 1: Understanding Cyber Risk 1. Cyber Risk at the Speed of Light 2. Dissecting Cyber Risk Part 2: Quantifying Cyber Risk 3: Inherent Cyber Risk 4. Residual Cyber Risk Part 3: Mitigating Cyber Risk 5. Prioritizing Cyber Risk 6. Optimizing Cyber Resiliency – the next level of cyber assurance
Ariel Evans is a senior cyber security expert, serial entrepreneur, and author. Ariel is the CEO of Cyber Innovative Technologies (CIT). She has won numerous awards including the EU Commission award for Innovation in Cyber Risk and Gartner Cool Vendor in Privacy Management. Ariel is also the faculty chairperson of Rutgers University’s Executive Cyber Program and is also a guest lecturer at Tel Aviv University, NYU, Hebrew University, and the University of Bologna.
"Truly an amazing read on cyber risk quantification and analysis! A cyber insurance must for the brokers, carriers, and organizations to strategically understand cyber risk, its implications, and use cases."
Mark Camillo, Head of Cyber EMEA, AIG
"Managing cybersecurity risk in the context of enterprise risk is one of the fastest-growing and most critical disciplines companies are looking to build proficiency in. Connecting security technologies to outcomes that are relevant for the enterprise is becoming a necessity that no executive can ignore in light of increasing pressure to demonstrate cyber maturity. Managing Cyber Risk is the perfect read to commence such a transition."
Alexander Schlager, Executive Director Security, Global Products and Solutions, Verizon
"Ariel Evans has written a must-read primer for any executive that wants to get ahead of cyber…Read this book - and learn from one of the best."
Sigal Zarmi, Head of Technology Transformation, Morgan Stanley
"Ariel Evans’ short and powerful business-savvy book on managing cyber risk is a rare jewel of a book because it does two critical things: first, it provides actionable qualitative cyber-risk management and oversight advice and, second, it offers an array of very useful quantitative suggestions, measures, and metrics. Together the content of this handbook will equip readers with the tools to make the business case and adopt a practical toolkit to take on this still relatively new and constantly morphing threat and opportunity."
Andrea Bonime-Blanc, CEO and Founder, GEC Risk Advisory, Author, Board Member
"Managing Cyber Risk is a must read for anyone in the cyber insurance industry who wants to understand how to strategically get ahead of cyber!"
Adam Cottini, Managing Director, Cyber Liability Practice, Gallagher