Thursday, 30 June 2022 15:42

iTWire TV interview: Yubico VP APJ Geoff Schomburgk on cyber insurance


Cyber insurance premiums have skyrocketed due to the constantly evolving cyber threats - but what steps can companies take before signing up for a cyber policy? Minimising security risk posture proactively will reduce the risk of cyber-attacks and therefore reduce their cyber insurance premiums. iTWireTV speaks with Yubico Vice President APJ Geoff Schomburgk on the topic.

Geoff Schomburgk is the Vice President for Asia Pacific and Japan at the world’s number one security key vendor, Yubico. As an industry leader in highly secure passwordless authentication, Yubico fully supports the need for cyber insurance. Our guest Geoff has a few recommended questions companies should ask themselves before approaching cyber insurance providers.

iTWire has enjoyed a long relationship with Yubico and you can find other stories here.

Get the lowdown on cyber insurance from Geoff here:

In our interview, Geoff speaks about

  • how much cyber insurance policies have increased
  • how businesses can put themselves in the best position to negotiate reasonable premiums on a policy in case the worst happens
  • what a cyber risk vulnerability report is and how often it should be carried out
  • why organisations should review their cybersecurity posture in line with the Essential Eight
  • which security practices they should consider a priority
  • why simple password authentication will not be enough to meet cyber insurers’ minimum requirements
  • how fast organisations can implement more robust authentication
  • what sort of employee training businesses can do to make their security profile more attractive to cyber insurers
  • whether the Work From Anywhere movement has weakened security postures because more people are logging in from home or other remote locations
  • if cyber policies are specific about what is covered and what will be paid out
  • when you should consider utilising a legal advisor with cyber insurance experience when taking out a policy
  • how Yubico can help an organisation reduce their cyber risk

Whenever I think of Yubico, I can’t help but remember the gripping Gimlet Media Reply All podcast “The Snapchat Thief” which showed how vulnerable mobile phone-based authentication mechanisms can be. In this podcast the hosts spoke to a hacker who gave advice on how to protect yourself from people like him; part of that advice was to get yourself a Yubikey, and this advice is increasingly important every day. Where are you on your security journey?

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David M Williams

David has been computing since 1984 where he instantly gravitated to the family Commodore 64. He completed a Bachelor of Computer Science degree from 1990 to 1992, commencing full-time employment as a systems analyst at the end of that year. David subsequently worked as a UNIX Systems Manager, Asia-Pacific technical specialist for an international software company, Business Analyst, IT Manager, and other roles. David has been the Chief Information Officer for national public companies since 2007, delivering IT knowledge and business acumen, seeking to transform the industries within which he works. David is also involved in the user group community, the Australian Computer Society technical advisory boards, and education.

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