Governance & Risk Management , IT Risk Management , Video

Don't Make Cyber Insurance Your Only Line of Defense

Fernandez, VP of IT at Bangalore International Airport, on Insurance Strategy
Jacxine Fernandez, vice president of IT, Bangalore International Airport Ltd.

When choosing cyber insurance, follow the checklist of cybersecurity requirements the prospective insurer provides, but go beyond it to lower your premiums, says Jacxine Fernandez, vice president of IT at Bangalore International Airport Ltd.

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"There is no 100% security," Fernandez says, so he recommends that enterprises "do more than what is required. Insurance providers want to know that their insurance policy is not your only line of defense." Otherwise, he says, "You're in for a nasty surprise" if you are hit by ransomware.

In this interview with Information Security Media Group at ISMG's Cybersecurity Summit in Bengaluru, Fernandez also discusses:

  • The need to treat choosing cyber insurance with as much care as you would take to choose life or health insurance;
  • The elements of cyber insurance coverage, which may include a reporting requirement, ransom demands, recovery of data and handling of media fallout;
  • The importance of knowing what your cyber insurance policy excludes.

Fernandez is a risk management, information security and business continuity professional with experience in managing the three segments in complex environments. He has previously worked with the Adani Group, Zain, Bharti Airtel and five other companies across the Middle East and Africa.


About the Author

Rashmi Ramesh

Rashmi Ramesh

Assistant Editor, Global News Desk, ISMG

Ramesh has seven years of experience writing and editing stories on finance, enterprise and consumer technology, and diversity and inclusion. She has previously worked at formerly News Corp-owned TechCircle, business daily The Economic Times and The New Indian Express.




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