CISOs Increase Personal Protection Over Breach Worries
CISOs feel personal liability for security failures.
Cybersecurity control failures can cost businesses around £10 billion per year, with around two-thirds of organizations suffering a security breach in the past year because of policies, governance, or due to controls failing or not working effectively.
According to research from Panaseer, this is leading to 72 percent of security leaders taking out personal indemnity insurance to protect themselves from the consequences of security failures.
Jonathan Gill, CEO at Panaseer, said: “Some CISOs have been forced to plaster over the cracks with personal indemnity insurance: but this treats the symptoms without addressing the causes. If this blame game culture continues whilst CISOs are left powerless to provide accurate assurances, many will leave the industry – either of their own volition, or at the behest of courts.”
Read the full article at SC Magazine.
Related press & awards
