The cyber space saw numerous developments during 2019, including new privacy regulations, systemic ransomware claims and increasing concern surrounding non-affirmative cyber in the underwriting community. Looking toward the remainder of 2020, Guy Carpenter sees a number of emerging trends that present both potential challenges and opportunities for our clients, particularly as they relate to COVID-19.
The human resources (HR) function has become integral to organizational cyber risk management in recent years. Along with information security/information technology (InfoSec/IT), HR is increasingly called upon to help determine and enforce employee data permissions, train and enforce cybersecurity policies and procedures and help respond to cyber events involving employees, according to a recent report from Guy Carpenter-affiliate Marsh JLT Specialty.
HR’s increased involvement is due to a convergence of factors, including: a more active regulatory environment, the pervasive use of technology and devices in employees’ work, and recognition of the importance of a strong organizational cybersecurity culture.
Employees’ data and security practices are critical determinants…
