CYBER RISK INSURANCE IS IMPORTANT COMPONENT IN INCREASING BUSINESS CYBER SECURITY – LIOU

CYBER RISK INSURANCE IS IMPORTANT COMPONENT IN INCREASING BUSINESS CYBER SECURITY – LIOU

Cyber risk insurance is an important component in increasing the level of business cyber security in the whole world, President of the League of Insurance Organizations of Ukraine (LIOU) Oleksandr Filoniuk has said at the forum “Cyber Security – Protect Your Business,” held in the Ukrainian Chamber of Commerce and Industry at the initiative of the chamber electronic communications committee on June 19.

He also stressed that holding such events and cooperation with the Ukrainian Chamber of Commerce and Industry give good reasons for implementing certain mechanisms for preventing cyber threats and minimizing the consequences of cyber attacks.

The forum became a platform for discussing the ways to help companies of any scale in assessing, developing and strengthening their cyber security programs to protect business, educate and share experience, identify the best practices in the field of information security.

Speakers of the forum noted that in Ukraine the topic of cyber security over the past three years has made a significant progress. However, even today many people in the government, business and the society do not feel sufficient awareness about cyber threats or are not prepared for them. Cyber security should become part of culture of every business unit or institution. Companies, the government and vendors should jointly develop the cyber eco system. This will create conditions for mitigating threats that are daily becoming more sophisticated and dangerous.

As reported, the LIOU is part of the Anti-Crisis Center for Business Cyber Security under the Ukrainian Chamber of Commerce and Industry and actively participates in its work. The first meeting of the center was held in July 2017.