This highly interactive session is designed to provide participants with knowledge and understanding of the Data Protection Act and the importance of data protection for insurers and insurance professionals.
This workshop covers cybersecurity that can used by a company and introduces the two basic types of insurance cover that can be used by insurance professionals for the implementation of a more general risk management plan in their sphere of operation.
At the end of the session, participants will be able to:
• Understand key requirements of the Data Protection Act of T&T;
• Understand the importance of data protection for Insurers and others working in the insurance industry
• Understand implications for data breaches
• Understand risk mitigants to deal with data breaches
At the end of this workshop participants understand:
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At the end of this workshop participants understand:
- Why Cybersecurity Risk Management is important?
- The need for a Company/business to create a cybersecurity strategy to protect itself because of increased cyber-attacks.
- The motivation for the same. Financial extortion; the thrill of the challenge by hackers
- To prevent litigation or minimize the effects of the same
- How to Build the right Management Culture.
- Investing in awareness training – Training Staff etc.
- Stressing the importance of “Cyber Hygiene”- Daily routines and behaviours of security teams or personnel.
- Inviting different Perspectives – Collaborating with third party experts
- How to assess Cybersecurity Risks.
- Performing a Data audit
- Vulnerability and Penetration Tests
- Guarding against phishing, ransomware and online scams
- How to implement a Response Plan.
- First Responders: Having a blue team or someone responsible for engaging with the system upon notification or awareness of a Cybersecurity incident. Containment and isolation of threats on systems or networks. Eradication of infected files, folders etc.
- Forensics (second responders): Threat hunting for attack vectors etc., checking on your system’s integrity, security and level of data loss. Confirming that your system is ready for your operations to return to normal.
- Recovery: Restore your system and network to its state pre-incident operation; informing the police and clients.
- Monitoring: Continue to monitor the results of your response plan (this could include the use of specific applications); keeping logs, keeping all stakeholders informed regarding the state of your cybersecurity.
- How Business Insurance (Cyber Security Insurance) can help.
- Cyber liability insurance policy
- The Cost of notifying customers of a data breach
- Credit monitoring services
- Computer forensic services needed to investigate the attack
- Business interruption costs
- Ransome in the situations of cyberextortion
- Défense costs in civil claims filed against you by affect parties
- Tech errors and omissions insurance policy
- Covers lawsuits related to professional mistakes
- Missed deadlines- not complying to a standard in a timely manner
- Data breaches resulting from human errors