Implications for Cyber security Stakeholders
Which of the questions posed in section 2 (beginning on page 3) of “Project 2020 Scenarios for the
Future of Cybercrime – White Paper for Decision Makers” do you think iis the most crucial to answer
moving forward and why? Support you answer.
I just need a discussion question answered. It doesn’t need to be elaborate at all. Just enough to answer
the question
Implications for Cyber security Stakeholders 2
The implications of the cyber security raise several questions that need an exhaustive
examination from governments and other stakeholders. Some of these questions have been noted
by the project 2020 initiative of the International Cyber Security Protection Alliance (ICSPA),
such as who owns the data in networks and who secures the joins between services, applications,
and systems (Cyber Security Protection Alliance, n.d ). Perhaps the most crucial to answer is
who covers and recovers the losses both financial and regarding data recovery. Understanding
who covers the loss of cyber-attack in terms of finance and data can help prepare and formulate
strategic solutions for cyber security. This is the most important question to examine given that
the worst effects of a cyber-attack are loss of money, tarnishing of the organization’s name and
loss of customers. The increased cyber-attacks have resulted to a faster growing cyber insurance
industry as high profile attacks fuel demand.
Insurance plans like the First Cyber Risk Insurance allows the victim to recover
information and income that may have been lost due to a data breach. This policy includes theft
and fraud and covers the loss of the policy holder’s data resulting from cyber-attacks. A forensic
investigation on the other hand covers the legal and technical forensic services and examines the
impact of the breach while business interruption insurance covers lost income when the insurer is
capable of doing business after an attack. Another type of first-party cyber risk insurance is the
computer data loss and restoration that covers any physical damage experienced during cyber-
attack. There are several third party insurance covers that insure the policyholder of the liability
to a client’s or government after an attack. These types of cover range from litigation and
regulatory and notification costs insurance
Implications for Cyber security Stakeholders 3
References
International Cyber Security Protection Alliance. (n.d). Project 2020. Scenarios for
