"Obtaining adequate cybersecurity budget from the board requires translating technical risk into business financial risk - an ability that is not always available to security technicians."
"The outstanding headline is that the cost of ransomware is high: 90% of incurred loss over this period is attributable to ransomware while only 12% of the claims relate to ransomware."
"Two key failures stand out. Firstly, 13% of losses stem from software vulnerability exploits. This highlights the need for improved patching cycles."
CFOs and boards require a financial understanding of cybersecurity risks to secure adequate budgets. Resilience provides insurance and consultancy services that translate technical risks into financial terms. Their analysis indicates that ransomware significantly impacts the manufacturing sector, with 90% of losses attributed to such attacks. The report highlights that 13% of losses arise from software vulnerabilities, emphasizing the need for better patching practices. The insights derived from Resilience's data can help CISOs effectively communicate risks to financial decision-makers.
Read at SecurityWeek
Unable to calculate read time
Collection
[
|
...
]