Cyber security is often treated as a technology issue, but in reality technology is only part of the picture.
Employees use email, access systems, share information, work remotely and make decisions every day. A convincing email, an incorrect recipient or a compromised password can create a problem without any failure of the underlying technology.
That makes cyber risk a business issue, not simply an IT one.
People and processes matter
Technical security remains important, but businesses should also consider how their people work.
Staff awareness and training can help employees recognise suspicious activity. Clear processes can reduce uncertainty about what to do when something goes wrong. Access to systems and information should also reflect what an employee genuinely needs to do their job.
Businesses should consider their response before an incident occurs. Who needs to be told? Which systems are critical? How will the business operate if access to them is disrupted? Who is responsible for coordinating the response?
Having those conversations in advance can make a difficult situation easier to manage.
Where does insurance fit?
Cyber insurance sits alongside these measures rather than replacing them.
The right cover will depend on the nature of the business, the information it holds, its reliance on technology and the potential consequences of an interruption or cyber incident.
CIB works with businesses of different sizes and levels of cyber exposure across the Channel Islands, arranging cover around individual requirements.
Cyber risk may involve technology, but managing it involves the whole business.