Three years after my last appearance in a conference due to COVID-19 lockdowns, I was invited to present to the 9th Information Security Conference in Greece. The conference theme was Enabling a Secure Future: Managing Risks in a Constantly Changing World. The conference was virtual / online and was held on the 17th of February, 2022.
I often get into discussions about budgets and how much a company should invest in its security program. There is no easy answer because the problem we are trying to solve has many unknowns.
There are many ways one may address this question, the main one being a rule of thumb.
Professional liability insurance has been around for long. It is not a surprise that Cyber Insurance is becoming a trend lately, considering the constantly raising number of security breaches. The post in one sentence: Cyber insurance is a good thing but be careful what you wish for.
Some major breaches have seen the light of day lately, and everybody agrees that they will keep coming. I don't believe you will find any security professional respecting himself to tell you that this will stop. The reasons are many, but the most important one is the (lack of) security design. Systems, processes and services have been moving to production without security design for years. And unfortunately in many cases they still do.
In our (security) profession it is becoming common to jump on each other's throat; and the result is the public blaming of the CISO involved - like leaving them alone to take some hard steps in the middle of no man's land.