CYBER SECURITY AND INSURANCE COMPANIES, BY SOLUTELMaria Cruz Alcocer
CYBER SECURITY AND INSURANCE COMPANIES, BY SOLUTEL
Why is Solutel considering this Cybersecurity event and insurance companies? It seems a cliché, but it is a reality that society has advanced more as a whole in the last 15 years than in practically the entire 20th century.
Both technology and communication systems and social networks have brought people and entities closer together; what one says becomes a big snowball just a few minutes later if it is viralized. On the contrary, the friends of others see how it is possible to commit criminal acts using those same means of communication that we use every day to inform ourselves. Criminals no longer try to rob a bank and be fully exposed on the street, with a high probability of being caught.
If years ago the distinction of white-collar thieves was made, today we could affirm that there are thieves 2.0. People who – from a remote location – are capable of stopping the production of a factory, a bank, a pharmaceutical laboratory … Beyond the reputational crisis to which the firm is exposed, its systems of security, social networks will be responsible for “airing” the weaknesses and weaknesses of said company that is being extorted by cybercriminals, by those “thieves 2.0”.
What do we expose ourselves to?
Ramsonware is a type of software that encrypts all the victim’s files and allows a company’s computer systems to be hijacked. Amounts are required that, very commonly, tend to coincide with the presumed turnover of the extorted company in a short period of 2 or 3 days. For this reason, many companies prefer to pay to be able to go back to their day to day, make a clean slate and –of course- increase their security systems to avoid another similar situation. They recognize that they are manageable amounts and that it is a better option to get rid of that nightmare as soon as possible and invoice again.
What is the role of the Insurance Companies?
And this is where Insurance Companies envision a new business niche. Cars, buildings, different parts of the anatomy of a player and / or a model have been insured. We insure against the theft of material goods in our own home and / or company; We even make sure that in case of sudden death, possible mortgage charges are canceled as well as funeral expenses. But we ask ourselves, how much does a day of zero productivity cost for Amazon, Banco Santander, HP or Ford? How many tens of millions of euros could one of these companies lose (loss of profit) in a single day if they were unable to operate due to a ramsonware attack? I insist, regardless of the serious reputational crisis that it will obviously suffer.
What issues will be discussed during the event CYBER SECURITY AND THE INSURANCE COMPANIES?
- Are companies, large and small, aware that more important than securing the industrial warehouse is ensuring business continuity 24X7 against acts of cybercriminals?
- Are there policies against cyber attacks?
- What requirements must companies meet to be able to contract this type of security policy on their network?
- What minimum security solutions are recommended to companies?
On the 7th of July we will celebrate the 1st event SOLUTEL CIBERSECURIDAD AND LAS INSURANCE COMPANIES. Together with the CIO / CISO of insurance companies, lawyers specialized in Insurance Law, units specialized in cybercrime in the State Security Forces and Corps, we will discuss how companies should act to -mainly- avoid being attacked by this or any other type of crime. telematics. Second, to establish how insurance companies can be strategic allies to ensure the continuity of our business.
More information: Page Solutel Events