In a recent article published by Captive International, Michelle Bradley and Jason Luckett discuss, “Optimizing Cyber Risk Management: Key Captive Considerations”. In it, they examine the parameters of cyber risk, and how it changes constantly as hackers adapt and expand their avenues of threat. It is important to understand that cyber risk should always be strategy-focused and not simply funding or transfer-focused. Cyber risk has key mitigation and incident response components which need as much care as the funding or transfer mechanisms being implemented.
The risk mitigation and incident response components mentioned in the article, must regularly be reviewed and adjusted as the cyber risk landscape changes. A captive strategy should always integrate important considerations from these components, which requires a multidisciplined collaborative effort with ongoing strategy adaptation and active incident response plans.
As a reminder, SIGMA's Captive Overview brochure presents a high-level captive overview, and addresses fundamental questions, such as “What is a captive insurance company?”, “Why would I use a captive over traditional insurance?”, and “How do I form a captive?”. Get your copy today by clicking the link below.
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