Key Recommendations

Key recommendations - Cyber Directors’ and Officers’ survey findings:

Developing a culture of cyber security: A strong organisational culture to cyber security which engages all stakeholders, from senior leadership through to front line employees, is essential in managing cyber risk effectively. Strive to make your organisation well prepared for cyber incidents through the implementation of ongoing training, education and awareness programmes.
Allocate cyber security budgets wisely: Ensure that your cyber security budget is maintained and well-allocated. Consider the specific needs of your organisation, balancing investments between security technologies and assessments, training and cyber insurance.
Develop a robust cyber incident response plan: Ensure that your organisation has a comprehensive and well-documented response plan to manage cyber incidents effectively. This plan should include identifying key stakeholders (internally and externally) and their roles and responsibilities, communication protocols, and steps to mitigate and recover from cyber-attacks.
Conduct regular cyber table-top exercises: Perform a targeted table-top exercise at least annually to test your cyber incident response plan. These exercises will help identify gaps and improve the readiness of your team to handle a cyber event when it happens.

Key recommendations - Cyber Directors’ and Officers’ survey findings:

5. Manage cyber insurance effectively: Ensure you have reviewed the insurance options available for cyber risk whether on a standalone basis or as part of a combined policy. If cyber insurance is already purchased, ensure it remains aligned with your current and future risks and exposures, the cyber risk environment evolves quickly, your insurance cover should do the same.

6. Stay informed about cyber risks: Be well-informed about the current and future cyber risks facing your organisation. Phishing attacks, ransomware, weak cybersecurity systems and controls are key areas as well as emerging technologies and AI. Stay informed, determine what’s most relevant and develop appropriate strategies to manage these across people, process and technology.

By implementing these recommendations, organizations can enhance their cyber resilience and better protect themselves against evolving cyber threats.

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