1. 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

2. 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

3. Some INSURANCE Statistics
Source. CFC underwriting 2017

4. 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

5. 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

6. 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

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

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

9. INSURANCE

10. THANK YOU FOR LISTENING