Andy Hall – Cyber & Tech INSURANCE Specialist What CYBER trends are BHIB seeing and what we believe are the significant risks to the Life sciences industry AND Ways to mitigate the risk Andy Hall – Cyber & Tech INSURANCE Specialist

CyberCRIME Fraud & Cybercrime are the UKs most common Offences Cybercrime now accounts for over half of Reported Crime Rarely a week goes by without a Data breach or Cybercrime story hitting the headlines Everyone could be a victim The Life Sciences sector hold significant volumes of personal and sensitive data as well as intellectual property

Some INSURANCE Statistics Source. CFC underwriting 2017

What are THE SIGNIFICANT RISKS TO LIFE SCIENCES BUSINESSES Fall in Share Price or Company Valuation Regulatory Fines (GDPR) Operational Disruption / Service denial Loss of Reputation Cost Per Stolen Record higher Lost Intellectual property

Common ways How do cyber breaches occur Ransomware = Lost Data / Additional costs ie Forensics Phishing = Money Loss / Lost Data CEO Fraud = Money Loss Human Error = Data protection / money loss Denial of Service attacks = Additional costs ie Forensics Telephone Hacking = Money Loss GDPR = Prospect of Increased Fines / Additional costs

How can you protect your BUSINESS BASIC SECURITY – Establish & Build Defences Keep Software Updated Have a contingency plan Make sure Passwords are strong Educate staff and refresh training regularly Make sure Data is regularly backed up Policies, standards & control frameworks Vet your Outsource Service Providers Physical Network Controls/Malware protection Monitoring & Double Verification Procedures

How can you protect your BUSINESS ANALYSING THREATS – Be vigilant Vulnerability detection security control management Penetration testing Threat intelligence & research Application security Compliance monitoring

How can you protect your BUSINESS Responding To Cyber threats & Incidents Cyber incident response Crisis management Investigations & forensics IT resilience & recovery Consider Insurance ?

INSURANCE

THANK YOU FOR LISTENING