BW Cyber July 2023 Monthly Newsletter

Cybersecurity insurance

Most asset managers (e.g., private equity firms, hedge funds, traditional RIAs, broker dealers, etc.) have cyber insurance coverage – you do, don’t you?

Well, if you listen to the SEC’s guidance, you probably should have cyber coverage. And even though the process to obtain it can be painstaking – sometimes taking weeks or even months – just like life insurance, it is a good idea. After all, it seems like just about everyone in the industry has either been hacked or will be hacked, so you’ll definitely need it. Right?

But what if your cyber insurance policy doesn’t cover your most prevalent financial risk? Click ‘Read More’ below for further thoughts – and some recommendations on what you can do to reduce this risk.

Are you checking your web page for potential vulnerabilities – even if the web page is static and not connected to your broader IT environment? You had better. We are seeing an increase in criminals targeting company’s static web pages to deface them, and these defacements are extremely damaging from a reputational perspective.

Click ‘read more’ below for the simple solution.

Most asset managers are now aware of the term ‘Penetration Test’ or ‘PenTest’ as it’s referred to in IT circles. The SEC recommends you do it, and investor DDQs ask if you’ve done one, so most likely, you do it.

But why? The simple answer is: if all of your data is in the cloud, you are probably not addressing your key data risk if you only focus on traditional PenTesting! So, have you tested to confirm that your cloud data is safe? If not, you should.

Click ‘read more’ to learn what to do instead of a PenTest.

Upcoming Events

BW Cyber Founder Michael Brice is scheduled to speak at the following upcoming industry events: On Wednesday, July 26th, he’ll be at the SVB PE CFO Summit West/Central in Dana Point, CA, and on October 18th and 19th, he’ll be in New York for AltsOps 2023, which BW Cyber is also sponsoring.

Click the links below for more information on these events.

SVB PE CFO Summit West/Central 2023

AltsOps 2023 Day 1 – Private Markets

AltsOps 2023 Day 2 – Hedge Funds