Cyber Metrics: Recognizing Contingent Liabilities from Cyber Incidents
Publicly listed companies are meant to recognize contingent liabilities, which are liabilities that may be incurred depending on the outcome of an uncertain future event, on their balance sheets. Cyber incidents are increasingly probable and known to impose costs and losses on businesses. Boards, regulators, insurers and investors are increasingly asking what these contingent liabilities might amount to following a series of high-profile cyber incidents in recent years (e.g., the Yahoo!/Verizon merger). Yet many companies still do not make contingent liability provisions for cyber incidents. This session will examine methods to estimate the financial impact of various classes of security incidents and introduce attendees to a framework for estimating the contingent liabilities that their companies might face in the future.
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