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One is always interested to see cyber tech firms secure investment. But one now questions whether we need more cyber tech firms or following the recent quarterly update from Lloyds of London on cyber insurance. We need to go back to the foundations of risk management to manage cyber risk. Required by cyber regulation. (https://lnkd.in/eUzQJEcs).
When one sees the likes of CISA, Microsoft and UnitedHealth undergoe cyber attacks from nation states. Can any software platform offer an organisation protection from cyber attack, without the foundations being in place for the management of cyber risk?
How do we define value today? Does the amount of funds raised equate to a valuation for cyber companies. When one considers the effects of a cyber breach through a third party software provider. Should valuation be aligned to a companies cybersecurity, or lack of (SolarWinds, Okta, Ivanti)? When regulated customers are required to demonstrate material risk management, how do markets value Cyber MSPs in todays high risk cyber market?
With the Lloyds market update (note their cloud statement), is it time for organisations to build the foundations for cyber risk management? Organisations need to address the cyber coverage gap, building in house risk management and risk transfer through suppliers, contracts and cyber insurance. In house risk transfer that is being driven for some by cyber regulation. Isn’t this required for an organization to demonstrate value?
@Thaddeus Dziekanowski Brian D. McCarthy
Veritas GRC
#cybersecurity #cyberriskmanagement #cybercoveragegap #cyberrisktransfer
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