Cyber security and evolving threats and mitigation
Gallagher outlines the cyber landscape, current risks to businesses and how they can prepare and protect themselves.
Reis Brooks, from Gallagher’s Cyber Risk team, gave a fascinating overview to a business audience at the Rossborough's Guernsey office on Friday 22nd September.
Reis outlined the types of attack prevalent today that companies, both large and small, should be aware of and prepared for. These cover threats from nation states, organised crime, ‘hacktivists’ and also insiders.
The cyber terrorist can be very sophisticated and also patient, using a variety of traditional tools for gaining access to data. Reis identified examples including ‘open source intelligence,’ i.e. spoof emails with links, identifying vulnerabilities within company systems, phishing and ransomware, along with active or passing scanning of old servers to highlight potential weaknesses.
Even the relatively calm waters of Jersey and Guernsey are not immune. Channel Islands’ systems have frequently come under attack. To counter threats, all businesses need a multi-layered approach to cyber risk management, an incident response plan and continuous process of evaluation, together with a culture within the organisation that ensures all staff are well trained and aware.
The insurance market has evolved since Covid so that the five point checklist for assessing clients back in 2020 has been replaced by a comprehensive 30-40 page plan. Underwriters are also showing greater flexibility than even six months’ ago, so cover is more readily available.
Gallagher deploys specialist teams to work with clients and offers a range of services for SMEs and larger firms covering strategy development, 6/12 and 18 month road maps, staff training along with regulatory and compliance support.
Richard Clarke, Rossborough Managing Director for Guernsey, said, ‘We were delighted to welcome Reis across for his insight and overview of the cyber landscape. With Rossborough being part of the Gallagher Group for 10 years, we can now tap into the excellent support and vast specialist across a number of key areas, such as cyber and healthcare, which historically would not have been available to us.’
Rossborough’s next seminar focuses on healthcare and takes place in November.
