Cyber Security Insurance – How IT audit and security can make a strong business case for organization protection
Alex Branisteanu, Director IT Advisory & Sumari Witt, Director IT Advisory
Cyber Security breaches are on the rise and the impact of a data breach is a significant challenge for most companies. Reputational damage is usually the first thing one can think of as a result of a breach. However, there’s a lot more to think about when it comes to the aftermath of such a high-risk event and how to anticipate the financial impact. Our presentation will cover key concepts related to cyber security risk treatment and the value that Cyber Insurance can bring to the organization in situations where residual risk can be transferred to cyber insurers. We will aim at developing an understanding about the cyber insurance application process, key stakeholders who need to be involved, and the challenges in identifying coverage options, including consideration of vendors/service organizations. A practical walkthrough of a typical Cyber Insurance application form will also be covered in the presentation. Join us to hear more about managing residual cyber security risks using cyber insurance to help protect organizations!
Alex Branisteanu is a Director in KPMG’s San Diego IT Advisory practice. Prior to joining KPMG, Alex served as the Director of Information Security implementing a comprehensive information security function for a large healthcare provider in Southern California. Her accomplishments include: IT Audits of clinical and business applications in healthcare, higher education, and banking, SOX 404 IT control design and testing; System and Program Implementations (badge identification & access, CCTV surveillance systems, data loss prevention for privacy and security monitoring, learning management system (LMS) online security & privacy awareness, identity and access management, computer asset management, laptop & USB device encryption, disaster recovery, and program change management); Information Security (policies and standards, intrusion detection monitoring and vulnerability management, mobility security, and cloud risk mitigation, incident response, reporting, and monitoring technologies, security event log management and monitoring, mitigation simulation exercises); HIPAA/HITECH and PCI DSS Enterprise Risk Control Self-Assessments. Alex serves as the CISM Coordinator on the ISACA San Diego Chapter Board and is a frequent speaker at various professional association conferences related to healthcare auditing and information security. She holds the CPA, CISA, CISM, CISSP, CRISC, ISO 27001 Lead Implementer certifications.
Sumari Witt is a Director in KPMG San Diego’s IT Advisory practice. She is also a board member on the San Diego Information Systems Security Association (ISSA). Sumari has been working in the IT Security field for more than 11 years. She started her career with KPMG South Africa in 2005 and have helped clients in various industries and countries across Africa, the US, Canada and the UK manage their IT Security risk. Sumari has a Bachelor of Commerce degree majoring in Economics, Investment Banking and IT. She also holds the CISA, CISM and CISSP certifications.