UpGuard Blog

Why Should I Care About Cyber Risk?

The term cyber risk is often used to describe a business’ overall cybersecurity posture, i.e., at how much risk is this business, given the measures it has taken to protect itself. It’s often coupled with the idea of cyber insurance, the necessary coverage between what a company can do security-wise, and the threats it faces day in and day out. Cybersecurity used to belong exclusively in the realm of Information Technology, one of many business silos that while important, was only a small piece of the business and as such, often delegated to a C-level manager who interfaced with other executives as necessary. Today’s businesses have outgrown this model, as what used to be considered information technology has grown to encompass business itself, permeating every aspect of it, governing its speed, its range, its possibilities. As a CEO or CFO, the way your business handles information technology and begins to foster cyber resilience, reflects the way you think about your company and its place in the contemporary market.

Filed under: insurance, cyber risk, data breach, business risk