Cyber risk: How does cyber events become so costly?

Presented at BSidesLV 2023, Aug. 9, 2023, 10:30 a.m. (Unknown duration).

Cyber security incidents are costly. Quantifying cyber risk is problematic because it requires deep understand of technology, asset and knowledge of business functions. Data on actual losses is not available, and public information is only partial data. Many top companies have leverage our cyber risk models to quantify their risk. This session will show attendees on a high level, how we quantify cyber risk & what to look out for. Some of the components of that cost such as ransom payment and business interruptions are making headlines. This presentation identifies and describes other costs that may be less well-known but may be equally, if not more important, and explains how to model these costs.

Presenters:

  • Wendy Hou-Neely
    Wendy Hou is a VP and Sr. Cyber Risk Modeler from Marsh McLennan Cyber Risk Analytics Center. She specializes in data, data analytics, risk quantification models for all aspects of cyber. She designed and created the various cyber risk models for MMC Cyber Risk Analytics Center as well as consults on cyber risk quantification for clients from various industries around the world. Wendy has over 20 years' experience in the information technology industry, analytics, both in enterprise software, and hardware. She began working in the area of cyber security over 10 years ago to understand the financial impact of cyber incidents on businesses. Her skills in analytics and data science, combined with her understanding finance, technology and the nature of cyber incidents and cyber claims uniquely afford her the ability to quantify cyber risks. In her spare time she enjoys digging in the garden and plant all sorts of fruits and vegetables.

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