Week 4 Flashcards
(26 cards)
What is cyber insurance?
Insurance that protects a company from financial losses caused by cyber incidents like data breaches or attacks.
What does cyber insurance usually cover?
Costs from data breaches, ransomware, business interruption, legal fees, and IT recovery.
How does cyber insurance help manage risk?
It transfers the financial risk from the business to the insurer.
What are the two main ways to handle risk?
Mitigate (reduce the risk) and Transfer (e.g., through insurance).
Is cyber insurance the same as cyber security?
No. Insurance doesn’t protect systems; it only covers financial losses after an incident.
Why is cyber insurance becoming more popular?
More cyber attacks, rising costs of breaches, and government support.
Why is cyber insurance hard to price accurately?
There’s not enough historical data on attacks, losses, and how well security measures work.
Why do some companies choose not to buy cyber insurance?
It’s new, seen as expensive, often excluded in budgets, or believed to be covered by other policies.
What’s an example of a major breach partly covered by insurance?
Target (2013): $252M in total losses, $90M covered by insurance.
Why do big companies sometimes not invest heavily in cyber insurance?
The financial impact of attacks is often small compared to their total revenue.
What is organisational resilience?
An organisation’s ability to anticipate, prepare for, respond to, and adapt to disruptions and changes.
Why is organisational resilience necessary?
Because perfect protection isn’t possible. Resilience helps reduce damage and ensures recovery.
What types of threats affect resilience?
Cyber attacks, natural disasters, system failures, and maintenance issues.
How is resilience different from business continuity management (BCM)?
BCM plans for threats; resilience includes surviving, adapting, and continuing during disruption.
What is cyber resilience?
The ability to protect systems, limit attack damage, and keep operating during/after a cyber incident.
What three things does cyber resilience combine?
Cybersecurity + Business Continuity + Organisational Adaptability.
Why is cyber resilience more than cybersecurity?
Because it’s not just about preventing attacks, but also recovering and continuing operations.
What is the CERT-RMM?
A model to measure how mature and prepared an organisation is in 12 resilience areas.
Name three key activities in resilience.
Asset management, incident response, training and awareness.
What principle is resilience based on?
Good risk management – knowing assets, harms, and controls.
What does the “Herringbone model” say about resilience?
It includes capabilities, activities, and traits that adapt with change.
What do resilient organisations have in common?
Strong leadership, good communication, flexible culture, and awareness of risks.
What are the four steps of cyber resilience (NCSC)?
Prepare, Absorb, Recover, Adapt.
What is “absorb” in cyber resilience?
Using layers of defence to reduce damage and keep critical systems running.
