WASHINGTON, Nov. 19, 2020 /PRNewswire/ — The World Economic Forum (the Forum), the National Association of Corporate Directors (NACD,) and the Internet Security Alliance (ISA) today announced a collaborative effort to provide new guidance for directors to effectively oversee cyber risk for their organizations.
The collaborative effort is inspired in part by the World Economic Forum’s 2020 Global Risk Report, which found that cyberattacks are one of the top risks any organization faces and flagged that by 2021, $6 trillion will be lost to cybercrime, according to Cybersecurity Ventures. Compounding the risks and losses is the acceleration of digitalization due to the coronavirus pandemic.
The three organizations will begin the collaboration by developing a set of principles that boards of directors can use to assess the cyber-risk management processes their organizations need to follow. The new principles will be an update on the efforts that the Forum, NACD, and ISA have undertaken over the past several years, designed to meet rapid changes in the cybersecurity landscape. Once the new global principles are established, the collaborators will embark on determining how best to…
