Advisen FPN

Advisen Cyber FPN - Wednesday, March 6, 2019

Solving Cyber Risk: explaining technical issues of cyber in an accessible way


Solving Cyber Risk: explaining technical issues of cyber in an accessible way

By Chad Hemenway, Advisen

The goal: Assess and develop a top tier cybersecurity plan for your organization. The challenge: Understanding cyber risk from multiple angles without technical expertise.

Enter Andrew Coburn, Eireann Leverett and Gordon Woo – the authors of Solving Cyber Risk: Protecting Your Company and Society, a new book that dissects cyber risks they say cost the global economy $1.5 trillion a year while state-sponsored attacks threaten geopolitical stability.

“We sought to explain the concepts in a personal way, using analogies and stories to demonstrate how cyber risk can affect your organization to allow you to develop a risk management framework without having to delve deep into technical talk,” Coburn told Advisen. The book is written for business professionals and policy makers.

Advisen subscribers can receive a 20 percent discount on the purchase of Solving Cyber Risk. Use the promotional code CBN9C at the beginning of the check-out process and the discount will be shown when entering the payment method.

Learn from chapters titled “Know Your Enemy,” “Measuring the Cyber Threat,” “Rules Regulation and Enforcement,” “The Cyber-Resilient Organization,” and “Cyber Insurance” to apply a practical cost-benefit analysis to improve cyber risk management.

“Not only do we lay out the scenarios for you to figure out how likely a particular scenario is for your business, we approach the risk in a way to allow you to calculate whether adding a security feature will reduce the impact because there are also risks associated with software,” said Coburn. The most cost-effective measures to reduce cyber risk may not be what you think they are, he said.

The book also interestingly challenges current societal approaches to cyber risk. For instance, in its recommendations for the future Solving Cyber Risk says software products should be graded on their security and vulnerabilities and a current waiver sheltering software companies from product liability should be ended. The authors also stress a focus on law, and recommend investments here to “Make our police forces fit for purpose for tackling twenty-first century cyber crime and obtaining convictions of key perpetrators.”

About the authors of Solving Cyber Risk: Andrew Coburn is a specialist in risk, and the architect of the Cyber Solution risk model marketed by Risk Management Solutions (RMS). He is a senior vice president of RMS and one of the main contributors to the creation of commercial catastrophe risk models over the past 25 years. He is also director of the advisory board of Cambridge Centre for Risk Studies at University of Cambridge. Eireann Leverett is an ethical hacker with many years of experience in the cybersecurity and the impacts of computer security failures and accidents. He is founder of Concinnity Risks and a senior researcher on cyber risk at Cambridge Centre for Risk Studies. Gordon Woo is a catastrophist with RMS, focusing mainly on complex man-made insurance risks such as terrorism and cyber risk. He has 30 years of experience in catastrophe risk consultancy, advising financial institutions, governments and major corporations.

Learn more about Solving Cyber Risk by watching the video below.