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5 Ways Insurers’ Boards of Directors Expose Them to Cyber Risk

Yes, cybersecurity is the responsibility of the board. Here are ways they may be failing in that duty, and what to do about it. When it comes to cyber security, due diligence is a moving target, and many insurance carriers’ boards of directors are likely to miss it. Boards can exercise exemplary responsibility in many of their duties, and even take specific measures with regard to information security and still fail their companies. They can appoint a chief information security officer (CISO), hire IT security consultants, put a cyber security plan in place—and still end up presiding over a breach that lowers stock price, harms the company’s reputation, costs millions in mitigation efforts a

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