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Cyberrisk calls for more than a policy

Thu 5 July 2018

How can companies protect their digital data if someone really wants to cause serious harm? "That’s just not possible. It’s not about whether a business gets hacked, but when. You know, cyber risk is not new; even during the second world war Enigma codes were cracked through 'the ether'.”

Armand GarabedianMeet Armand Garabedian. Since June 2018 an Advisor and Senior Account Manager for the larger client accounts at Meijers. He has been tried and tested for more than twenty years during his career at the insurance division of the Rabobank. In addition, he is a part-time teacher at a financial services training institute (NIBE-SVV), and now ‘like a fish takes to water’ he is here at Meijers – where he can jump in to help his clients, in every sense of the word. Garabedian chooses his words carefully, yet resolute, when asked about his vision of cyber risk.

 What if…?

Now that the AVG (General Data Protection Regulation) is in force, he gets a lot of questions from organizations on how to keep their digital doors safeguarded against the big bad (outside) world. And, what needs to happen if things do go wrong. "When you consider that not even the White House is safe against cyber criminals, it’s a little too simple to think that you are safe with a firewall and an insurance policy."

Imagining the possible scenarios

At the same time, Garabedian does not want to be a fear monger, but rather he wants to get together with his clients and look at their specific situation. "The starting point here is business continuity – not taking out an insurance. It’s about managing risks. If your customers show you what the consequences of a successful hack are when it comes to the liability of Management, it quickly becomes clear that cyber risk requires more than an insurance solution.”What preventive measures can a company take? If you think through the various scenarios of threat, what are the consequences in relation to AVG (GDPR), and yes, how do you cover your risks in a way that suits your organisation? 

Hard to digest? Not for Armand Garabedian. That’s why he will be more than happy to come by and discuss your risks and needs. For more information, please contact Rob van Leyen  +31 (0)20 504 27 21 / +31 (0)6 52 644 210.

Tag: Cyber