What is cyber security readiness?
Organizations across the world are embarking upon changing IT infrastructure and digitalising their operations for more efficiency. However, with the arrival of advanced and sophisticated technologies in every industry, cyber threats are also getting complex day by day. Many times, organizations are not aware of the emerging threat patterns. Even if they are aware of, organizations lack relevant and adequate IT security mechanisms to mitigate emerging threats. The state of being prepared to combat sophisticated IT threats including the extent of that preparedness is termed as cyber security readiness.
What is cybersecurity policy?
The internal organizational policies of the IT department that are meant to ensure stringent cybersecurity practices and safeguard data assets from risks, including cyber insurance are the cybersecurity policies. In this era of a complex, expanding and distributed IT environment, the major challenge lies with whether the users are at par with their roles and stringency of cybersecurity policies. It not only rises the IT risks, but also pushes organizations towards uncertainty in business continuity.
No Second Chance in IT Security!
How cybersecurity policy and cyber security readiness are interlinked?
While discussing cyber security readiness and cybersecurity policy, the entire IT community faces a chicken-egg situation of pre-existence and dependency on each other. It is true that lack of cyber readiness leaves organizations vulnerable to IT threats and data breaches. Poor, ambiguous and inadequate cybersecurity policies create a gap between IT security and IT vulnerabilities.
Today, even if organizations have Identity and Access Management (IAM), Security Information and Event Management (SIEM) and Intrusion Detection System (IDS) in place, the Risk Management team can never be sure with the security of confidential business assets. Manytimes, the threats emerge from within the organization. Privileged access misuse, behaviour anomalies, undetected risky behavior profiles can inflict heavy damage.
We can never tell an organization to be cyber ready if there is no IT governance, seamless monitoring of privileged/ elevated sessions of the users, robust authorization and authentication mechanisms of the users and strong password management policy. The point is there are always some sort of IT security gaps. In such situations, a proper cyber security policy backed by cyber insurance helps in addressing challenges and risks that might cause heavy damages.
Other factors of cyber readiness
There are several additional factors which benchmarks cyber readiness in an organization. Cybersecurity knowledge and awareness among the employees and continuous training about the emerging trends and technologies is essential as well. Unless the users are updated with the risky IT trends, it is too challenging to prove the existing policies to be fruitful. Moreover, the cybersecurity risk assessment team can conduct regular and frequent audits to make necessary amendments in the IT security policies and alter risky behaviour profiles. With this, organizations can even have a cyber incident response team who can assist the IT department with their regular user reports.
In addition to the above, cyber insurance assists organizations for being ready to eliminate security vulnerabilities. It covers cyber risks with a highly competitive monetary margin. Organizationals get bewildered while requirement arises to recover massive financial losses in a disastrous aftermath caused by data breach or cyber incidents. They might not always have adequate resources to recover. Hence cyber insurance is the ultimatum of cyber readiness.
The Bottom line
There is no weighing machine to measure the ‘weight’ and seal the importance of cyber readiness and cybersecurity policy. However, both walks hand-in-hand if organizations are adamant on securing their information assets at any means. We can never consider an organization to be cyber ready if it lacks adequate cybersecurity policy. At the same time, if the cybersecurity policies are in place but the stringency of the policies are ignored, then we can never consider it to be cyber ready.