One Key to Success: Set Realistic Goals
“It is not possible to eliminate cyber risk entirely throughout a global supply chain. Taking steps to limit risk should not be misinterpreted as an airtight defense against threats,” reads Aspen Insurance’s 2016 white paper, Cyber Risk and the Evolution of Global supply Chains.”
Produced in collaboration with the Columbia Business School, the paper goes to conclude: “But understanding your organization’s operations, its supply chain, and its vulnerabilities can lead to the next best thing: resilience, or avoiding the potential for a single point of failure to disrupt your entire supply chain. Take the first step, if you haven’t already, and take measures to understand your operation and your supply chain. Assemble key personnel within your organization to identify how much and what kind of data you are holding and where it sits. Audit your supply chain to the extent you can and protect yourself as thoroughly as possible through your contracts with suppliers and vendors. Speak with your agent or broker about the proper coverages to help protect yourself against cyber threats and other supply chain risks. The goal is to do all you can to recognizing threats, limit your exposure, and ensure supply chain redundancy.”
Several of the folks quoted in the paper, like Oliver Brew of Aspen, Sarah Stephens of JLT Specialty, and John Mullen of Mullen Coughlin LLC, are frequent speakers and thought-leaders featured at the NetDiligence forums held annually in June and October.
You can hear them all and many more this June. Click below for more info.