Advancing Cyber Resilience: Principles and Tools for Boards

Cybersecurity features high on the agenda of leaders across all sectors, with business, governments and individuals rapidly taking advantage of faster, cheaper digital technologies to deliver an unprecedented array of social and economic benefits. Yet, with the benefits of digitizing and connecting comes a range of new challenges.

In response to these challenges, the World Economic Forum (WEF) recently published an exclusive cyber-risks tool kit, entitled ‘Advancing Cyber Resilience: Principles and Tools for Boards’  marking it as a one of a kind innovation tool in the cyber resilience landscape. It was developed by the WEF’s working group on The Future of the Digital Economy and Society with Lori Bailey, Zurich’s Global Head of Special Lines and leading expert on cyber risk, a member. The working group includes representatives from various industries, academia, government bodies and Zurich as the only insurer.

Countering cyber risk presents a significant strategic challenge to leaders across industries and sectors but one that they must surmount in order to take advantage of the opportunities presented by the vast technological advances in networked technology that are currently in their early stages. Over the past decade, levels of understanding have expanded of how to build secure and resilient digital networks and connected devices. However, board-level capabilities for strategic thinking and governance in this area have failed to keep pace with both the technological risks and the solutions that new innovations provide.

“Cybersecurity is now a leadership issue where Boards of Directors need to take action. However, many do not feel that they are equipped with the tools to manage cyber risks with the same level of confidence that they manage other risks. This toolkit provides an excellent opportunity to speak with our customers about how these can be used to mitigate their cyber risk challenges.” said Lori.

The toolkit provides tangible steps that organizations can take to advance their cyber resilience. It condenses leading practice into a framework and set of tools that Boards of Directors can use to integrate cyber risk and resilience into business strategy so that their companies can innovate and grow securely and sustainably.

Read more in the attached pdf about this exclusive cyber-risks toolkit and resource to support Board of Directors and CEOs to take action on cyber security and cyber resilience strategy.