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He referenced an insurer’s role in designing pressure relief valves for the steam engines powering Philadelphia in the 1800s: “They said if you wanted to have insurance, you have to have this piece of architecture on your system.” In so doing, “they drove security or solutions to avoid large insurance claims.”.
A look ahead to 2023 we can expect to see changes in MFA, continued Hactivism from non-state actors, CISOs lean in on more proactive security and crypto-jackers will get more savvy. 2 – Continued ‘hacktivism’ from non-state actors complicates cyber attribution and security strategies. By Marcus Fowler, CEO of Darktrace Federal.
I think it requires taking a step back and assessing what you can do with less," said Chris Roberts, CISO and Senior Director at Boom Supersonic. Andrew Smeaton, CISO at Afiniti, says reassessment of cybersecurity programs and plans is necessary. Too many folks focus on the technology as opposed to the people or process.
We use this type of model for our 'Whole of State' approach to security in North Dakota," says Michael Gregg, CISO for the State of North Dakota. Sean Scranton is a consultant on the Cyber Risk Solutions Team at WTW and often speaks on cyberinsurance issues. Small entities struggle with the cost of security services.
Powered by WormGPT and FraudGPT, hackers and scammers will continue to drive the cost of business higher as organizations pay more for cyberinsurance. Organizations recognizing the constantly growing threat of adversarial AI update their cybersecurity protection architectures with AI and ML defensive capabilities.
To counter advancing cyber threats, organisations will implement more sophisticated security measures like multi-factor authentication, micro-segmentation, and continuous monitoring. It emphasises the need for CISOs to provide comprehensive and accurate reports, ensuring that no important details are overlooked.
CISO Perceptions A critical blind spot for CISOs and cyber risk owners is the divergence in perceptions of their security stack’s effectiveness between leadership and technical teams. CyberInsuranceCyberinsurance will become an essential component of risk management strategies.
That headache is real, of course, but accountants and lawyers will step up to sort it out," said Mike Wilkes , Former CISO, MLS; Adjunct Professor, NYU. Thinking a bit more widely, though, I can imagine there will be a concomitant rise in cyber espionage and attacks between groups of impacted groups in China and the U.S.
It can also help inform cyberinsurers, who may choose to raise premiums for companies that can’t document where their code comes from. Despite these trends, McGraw and others sounded a note of optimism that good security is still possible.
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