The board's-eye view of cyber crisis management
Forget about being an observer
The board’s chief role in the organization may be oversight, but board members are increasingly being pulled from their elevated vantage point into the thick of cybersecurity issues. The possibility of being held personally liable in the event of a breach is one motivator to roll up their sleeves. Another is the ripple effect a cyber crisis can impose on the organization. A website going down is one thing; the company going down is another.
The fallout from many breaches often includes costly drawn-out litigation, distracting regulatory actions, trickle-down operational disruption, impaired strategy execution, and increased insurance liability, all of which diminish corporate value.
Inside Magazine - Global edition 2016
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