Time to act
Organisations in the financial sector need to take action and ensure they're meeting APRA and ASIC's cyber-security expectations.
APRA’s finalised prudential practice guide to help banks, insurers and superannuation
trustees strengthen their management of operational risk and improve business continuity planning has bolstered their focus on scrutinising the sector regarding best practices for cyber-security.
APRA is not the only regulator with a specific focus on organisational cyber resilience. The regulatory landscape has moved beyond a data breach/data-rich entity-only focus to a stage where all entities, directors, and officers face the risk of significant personal liability should they not take cyber resilience seriously.
Key focus
Understand Directors' and Officers' obligations and liability in accordance with APRA's letters' CPS 230 and CPS 234.
Where to start, and the relevance of insurance - highlighting the benefits of an appropriately tailored and implemented cyber insurance policy.
Areas identified as critical for insureds to address, to obtain or retain cyber insurance.
The holistic value of cyber insurance—a properly constructed cyber insurance program can be one of an organisation's most financially significant assets.
The importance of Professional Indemnity coverage for AFSL holders.
It's not just about having cyber insurance. It's about having a proper cyber insurance structure. Understand the value of risk transfer.
Be guided through the cyber-security requirements set by APRA, and learn how to implement a cyber-resilient structure that will not only bolster your cyber-security overall but will be viewed favourably by insurers and regulators.
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