Beyond the Breach – risk vs investment
Introduction
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The next twelve months are sure to test the mettle of leaders in any organisation. Against a backdrop of economic headwinds and recession, many organisations are looking to do more with the same budgets, and that includes cyber security. The disruption cyber-attacks create and the threat they pose to business continuity and the safety of everyone in society, means cyber security has become a stable item on the agenda across Boardrooms and Governments alike. In this edition of Insights, we’ll explore how to strengthen resilience and manage the cyber threats facing us today – and tomorrow. We’ll also look at how companies and public sector organisations can strike a balance between security risks and budgetary demands. Where are they investing security spend, and is this changing in the face of evolving cyber threats? In a recent pulse poll of Cyber leaders, we found – 43% are focusing the majority of cyber security budgets on technology, 38% on people, 14% on processes and the remaining 5% on insurance . With most focusing spend on technology, is there a way to make security tools work smarter, and realise more value from these investments? Our CISO Lawrence Munro goes into detail on page 8. When it comes to cyber insurance, how is the market adapting its offer to meet changing cyber coverage needs and budgets of CISOs? Our recent poll uncovered that 46% of respondents either did not have, or were unaware of, their organisation’s cyber insurance cover, whilst (a concerning) 10% were unable to obtain it . Hear from our experts on these very challenges on page 4. Legislative and regulatory commitments have a powerful influence on spend discussions . With new regulations moving at pace, we explore how organisations can strike a right balance between risk appetite and compliance considerations. Read more on page 16. I hope you find this collective insight from our NCC experts helpful.
Introduction - Mike Maddison, CEO
Welcome to our latest edition of Insights, our regular publication for leaders in Cyber Security
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The latest developments in cyber investment & Insurance
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A CISO Perspective
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How the threat landscape may drive cyber investment in 2023
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Regulatory & Legislative spotlight
Mike Maddison CEO, NCC Group
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