Slide 1: Risk Exposures for Professional Service Firms in a Digital World
Risk Exposures for Professional Service Firms in a Digital World Presented by: Peter Lynch National Client Relationship Manager, Aon
Slide 2: Introduction to your speaker
Introduction to your speaker Risk Exposures for Professional Service Firms in a Digital World Peter Lynch National Client Relationship Manager Aon
Slide 3: Agenda
Agenda Risk Exposures for Professional Service Firms in a Digital World Why are professional service firms a target for cyber criminals? Cyber threats facing professional service firms Risk mitigation strategies and what are some effective risk controls you can take? Cyber Insurance and what
Slide 4: Cyber Risk Exposure
Cyber Risk Exposure
Slide 5: Why do professional service firms make such lucrative targets?
Why do professional service firms make such lucrative targets? Access to sensitive, Large amounts of personal personal and financial Mobile and tablet devices information is collected, client data and details are used in conjunction analysed & stored on around management of with desktop. various dat
Slide 6: Cyber Liability – 10 Facts
Cyber Liability – 10 Facts 1. Data is one of a company’s most important assets, yet is not covered by standard property insurance policies. 2. Systems are critical to operating your day-to-day business, but their downtime is not covered by standard business interruption insurance. 3. Cybercrime is t
Slide 7: Threats and risks facing professional service firms
Threats and risks facing professional service firms Threat Definition Impersonating something or Email compromise Spoofing someone else Common threats that Tampering Modifying data or code Ransomware impact professional service firms: Repudiation Claiming to have not performed an action • Fraud Info
Slide 8: Cyber Risk Mitigation
Cyber Risk Mitigation
Slide 9: Risk Mitigation Strategies
Risk Mitigation Strategies 3. Cyber security insurance 2. 1. PI Insurance Security awareness & training
Slide 10: The Essential 8 Effective risk control measures
The essential 8 Effective risk control measures 1 Application Whitelisting 2 Patching Applications 3 Patching Operating Systems 4 Restricting Administrative Privileges 5 Multi-Factor Authentication The top 5 controls are key If organisations implement the 6 User Application Hardening Top 5 controls,
Slide 11: Practical steps What you can do today
Practical steps What you can do today Your digital footprint Your information Your security + Be vigilant about what you + Do not leave your information + Use a spam filter on your email account share on social media unattended + Ensure all devices have the latest + Treat your personal information +
Slide 12: Best practice tips for team members
Best practice tips for team members Create a cyber centric team. Have up-to-date anti-virus and malware software, undertake daily back ups. Ensure you are using strong passwords including numerals, upper/lower case letters and symbols. Hover over the sender’s email address to make sure it’s actually
Slide 13: Cyber Insurance and what information insurers require from the business
Cyber Insurance and what information insurers require from the business
Slide 14: What are Cyber Insurers looking for when assessing your risk profile?
What are Cybers Insurer’s looking for when assessing your risk profile? They want to assess how your people, processes, and technology can protect and respond to cyber threats. Although the cyber insurance application can Specifically, insurers will ask for: seem quite taunting it is • The basics —w
Slide 15: Technology and processes that Cyber Insurers consider
Technology and processes that Cyber Insurers consider • Data backup — Insurer’s want to know if you back-up all your valuable data on a regular basis, if you have a disaster recovery plan in place. • Company policies and procedures — What type of cybersecurity and incident response policies do you h
Slide 16: Technology and processes that Cyber Insurers consider
Technology and processes that Cyber Insurers consider • Use of Multifactor Authentication — Where a user authenticates themselves through two different means when remotely logging into a computer system or web based service to prevent unauthorised access. Typically a password and a passcode generate
Slide 17: Learn more
Learn more aon.com.au/quickfee
Slide 18: Demystifying commonly misunderstood questions from your cyber insurer
Demystifying commonly misunderstood questions from your cyber insurer Question What is this? And why is it important? This defines your specific risk profile as far as data is Please describe the type, nature and volume of the data stored Common classification destinguishes between Restricted, conce
Slide 19: Helpful Resources
Helpful Resources Most common are National Institute of Standards and Internationally recognized standards for information Technology (NIST) and International Organization for governance Standardization (ISO) 27001. Remote Desktop Protocol (RDP) Number of providers like CrowdStrike and BeyondTrust.
Slide 20: Thank you.
Thank you. Questions welcome