The CFO Playbook on Cyber Risk: What CFOs Need to Know About Cybersecurity Insurance

Webcast Available on Demand

Duration: 1 hour

Brought to you with support from Swiss Re Corporate Solutions

Webcast Summary

With ransomware, e-mail phishing scams, and other cyber attacks becoming increasingly common and sophisticated, CFOs are looking for ways keep their corporate data from prying eyes.

Although finance chiefs are exploring ways to mitigate the risks of data breaches, the reality is that many companies will fall victim to cyber attacks. This is prompting many companies to invest in cybersecurity insurance as part of their cyber defense. In fact, a new survey by the Risk Insurance Management Society finds that 80% of companies bought a stand-alone cybersecurity policy in 2016.

This Webcast will explore:

  • The questions CFOs should ask when transferring the risk of cyber exposure to a third party;
  • What types of cyber crimes are covered by cybersecurity insurance;

  • The top concerns of finance chiefs when facing a data breach, including reputational harm and business interruption costs;
  • Budgeting for a data breach; and
  • Emerging strategies and tools to consider that can enable you to take your cybersecurity to the next level.

About the Panelists

Carol Fox, Vice President, Strategic Initiatives, RIMS

Carol Fox is Vice President of Strategic Initiatives with RIMS, the risk management society™, which is a global not-for-profit professional association representing more than 3,500 corporate, industrial, service, nonprofit, charitable, and government entities throughout the world. She has held positions of increasing responsibility in the customer care, telecommunications, manufacturing, defense, and insurance industries. Carol is the chair of the U.S. ISO 31000 risk management standards Technical Advisory Group, and she is a participant on the COSO Enterprise Risk Management Advisory Council. She also serves on the Advisory Board for Miami University's William Isaac & Michael Oxley Center for Business Leadership at the Farmer School of Business.

Laura Langone, Senior Director, Risk and Insurance, PayPal, Inc.

Laura joined PayPal, Inc., the leading global secure payments company, in August 2015 and is responsible for Global Risk Management and Insurance. Prior to PayPal, Laura was the Senior Director of Juniper Networks from 2009 to 2015, responsible for Global Risk Management including credit, compliance and enterprise risk management. Laura has over 20 years of risk management experience. She started her career as a Casualty Underwriter with AIG where she worked in Boston, New York and Paris, France. Later she obtained her California Insurance Brokers License while at Johnson & Higgins and serviced large global high technology and biotechnology companies. From 2001 to 2007, Laura was the Director of Risk Management and Assistant Treasurer at Genentech, Inc., a leading biotechnology firm acquired by Roche. Laura also held positions at Marsh as the West Coast Life Science Leader, Oracle Corporation as the Director of Risk Management and Gordon & Rees, LLP, as an attorney in their insurance defense practice. Laura holds a Doctorate of Jurisprudence from Golden Gate University School of Law and MBA from Thunderbird School of Global Management. She is an active member of RIMS and most recently as the president of Silicon Valley Risk & Insurance Society (SVRIMS) Chapter supporting education and networking for high technology risk management professionals in the Bay Area and the Chairperson of the Enterprise Risk Management Sub-Committee.

John Parkinson, Affiliate Partner, Waterstone Management Group

In his role as affiliate partner with Waterstone Management Group, John provides strategic and operating model improvement advice to companies in the managed services market segment.He is also the founder of ParkWood Advisors, which provides business, technology, and operational strategy advice to a range of global businesses, and works with private equity investment groups to select, improve, and monetize the companies in their portfolios. Prior to founding ParkWood Advisors, John was the chief technology officer for Capgemini in the Americas; before then, he was a senior partner with Ernst & Young. John started his career in planning and strategy for the National Health Service in the U.K.

Judy Selby, Managing Director, BDO Consulting

Judy Selby is a Managing Director with BDO Consulting’s Technology Advisory Services practice. She consults with clients on cyber insurance, cybersecurity, information governance, data privacy, and complex insurance matters. She also advises clients on best practices for handling information throughout its life cycle, from creation or collection through disposition. In addition, Judy works with organizations and their counsels to advise on data privacy and cyber insurance issues, applying experience that encompasses coverage adequacy evaluation, international arbitration, and all phases of insurance coverage litigation.

About the Moderator

David M. Katz

David M. Katz, Deputy Editor, CFO Publishing

David M. Katz oversees coverage of accounting, tax, cash flow, and working capital. He has been with CFO since the October 2000 launch of CFO.com, and was previously a longtime assistant managing editor of National Underwriter, Property & Casualty. Katz has won several awards from the American Society of Business Publication Editors, including a Gold award for an annual CFO Buyer's Guide and two Bronze awards for original Web commentary. He also received the award for excellence in financial journalism (electronic media) from the New York State Society of Certified Public Accountants. Katz studied at Northwestern University's Medill School of Journalism and holds a BA in English and an MA in creative writing from the City University of New York. 

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