Magazine article Security Management

Ignoring the New Frontier. (Tech Talk)

Magazine article Security Management

Ignoring the New Frontier. (Tech Talk)

Article excerpt

Risk managers are unprepared for assessing the dangers of the cyberworld and have largely abdicated those responsibilities to their IT colleagues. While both groups expect greater risks from the Internet to arise over the coming years, they say that their companies are not taking the necessary measures to insure themselves against those risks. Those are just two of the results of a survey conducted recently of 251 risk managers and 250 IT managers from major U.S. companies.

"The E-frontier 2002: Continuing Threats to Corporate Risk Management" was commissioned earlier this year by The St. Paul Companies, a provider of commercial property and liability insurance. It shows that a wide gulf exists between the corporate risk manager and the IT manager when considering cyberrisk. For example, many technical managers had little confidence that anyone outside of IT understands the issues involved: while almost 90 percent of IT managers considered their knowledge of cyberrisks to he good or excellent, only half believed their risk-manager colleagues had similar knowledge. …

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