SECURITY
Cyber Risks Require Enterprise-wide Defense Position by Insurers
Effective management of cyber threats re- quires an enterprise-wide approach using the input of risk managers, information technology experts, security, human resources, the general counsel, and line management, according to insurance and risk management officials.
Too many companies are making a mistake by managing risks in different departments, says William Barr, vice president for the Chubb Group of Insurance Companies in Pleasanton, Calif., during an interview at the recent Strategic Stake-holders e-Crime Congress in London. He urges companies to establish enterprise-wide risk management programs, overseen by either the CEO or a chief risk officer reporting to the CEO.
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