Cyber risks

Failing to understand and mitigate cyber risk can damage your reputation, , breaches of privacy, loss of data, increase costs, give rise to legal liabilities and have other material adverse effects. With multiple access points available for attack, the best approach to cyber risk is to always assume that your digital assets are in a constant state of attack.

To combat cyber risk, you need to assume that you are a target, even if you don't know who is targeting you or for what reason. Don't get stuck in reactive mode. Focus on what can be done proactively to manage the problem before it occurs. While you rely heavily on information technology to conduct your business this is not just an IT issue.

The identification, assessment, management, reporting and monitoring of cyber risks should not be treated differently to any other risks.

LGIS understands these concerns and through our cyber program we aim to support members in improving their cyber-security practices and provide protection for losses.

The Essential 8 Framework developed by the Australian Signals Directorate (ASD) has a prioritised list of baseline security controls that organisation can implement to protect and improve their cyber-security. These eight controls can mitigate up to 85% of cyberattacks.