News & Insights

The Urgent Need for Cyber Security in the Supply Chain

Published 20 October 2021

Hackers are systematically using supply chain companies as a gateway to access high-value targets or to disrupt supply chains. Uncover the cyber risks present in your supply chain, and learn how to protect your organisation in our cyber webinar The Urgent Need for Cyber Security in the Supply Chain.


A single cyber breach of one key supplier can compromise thousands of companies. Our cyber leaders share strategies to help you collaborate with companies in your supply chain to improve cybersecurity and advise which cyber insurance solutions can help transfer this growing risk.

The webinar is presented and discussed by cyber leaders:

  • Robyn Adcock, Cyber and Tech Practice Leader,
  • Michael Herron, National Head, Professional and Financial Risk, with
  • Clyde & Co Partner John Moran and Huntsman CEO and founder Peter Woollacott 

Did you know cyber-crime costs Australia AU 29 billion per year? There has been a 60% increase in ransomware attacks in the last financial year, with the average cost of a single breach AU $276,323. 

Main points covered in The Urgent Need for Supply Chain Cyber Security webinar: 

  • Current regulatory cyber landscape including mandatory reporting for ransomware events and how a supply chain cybersecurity breach can impact thousands of companies
  • Cyber risk in the supply chain including a discussion of recent attacks
  • Best practice/ the most effective steps you can take internally to protect your organisation and strategies for working with your supply chain
  • The latest cyber insurance solutions for reducing supply chain cyber risk in the primary, excess and reinsurance cyber marketplaces

 


“From an insurance perspective, we’re seeing insurers change their focus over time in terms of what they’re looking for in baseline controls…insurers are looking for base controls through the essential 8 (security controls) in order to even offer insurance.” Robyn Adcock, Cyber and Tech Practice Leader


Walk away with best practices for prioritizing issues to reduce the risk of major business disruption from a ransomware attack.
 

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Gallagher provides insurance, risk management and benefits consulting services for clients in response to both known and unknown risk exposures. When providing analysis and recommendations regarding potential insurance coverage, potential claims and/or operational strategy in response to national emergencies (including health crises), we do so from an insurance and/or risk management perspective.
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