MADISON, Wis., Nov. 4, 2015 /PRNewswire/ -- It used to be when a company was hacked, it was usually an issue for the IT department, but that is not the case today. Cyber crime is reported to cost businesses about $100 billion in the U.S. yearly. The average cost of a data breach for companies with 1,000 employees is estimated at $15.4 million, according to a study commissioned by IBM. This is an 82% increase from 2009. Some companies have reported losses in excess of $65 million. Target and Sony CEOs lost their jobs as a result of cyber breaches. The message is poor cybersecurity planning, response, and communication can get them fired. Who will be next?
Jeff Immelt, CEO of GE, personally leads the company's cyber task force. However, far too many CEOs and their boards don't know how to best lead, fund and take a very active role in planning and response plans that need to be continually updated.
The Fusion Executive Summit, produced by WTN Media, taking place on November 9 in Madison, will address the key issues that cyber security has seen as it has shifted from an IT to a boardroom issue. Key members of the cyber task force should not only include the Chief Security Officer, CIO and Chief Risk Officer, but also the CFO, General Counsel and VP of Corporate Communications.
Attendees will take part in seven interactive sessions featuring experts who will describe the latest risk factors and solutions, including ways to protect your board members from personal liability. Companies need to orchestrate a comprehensive cyber security plan designed to protect their enterprise resources in the face of daily cyber attacks.
Session will cover these topics and more:
Governance and Planning for Cyber Security – How Can Private and Public Sectors Collaborate on Threats and Responses. This panel will include Major General Donald P. Dunbar, Wisconsin's Adjutant General and Homeland Security Advisor. He will be joined by David Cagigal, CIO of the State of Wisconsin and Gary Wolter, Chairman, President, and CEO of the Madison Gas and Electric Company.
Cyber insurance will be the topic in Cyber Liability – the Risk and Solutions. This panel will include Joan Schmit, a professor of Actuarial Science, Risk Management & Insurance at UW Madison, Stephanie Dingman, Vice President of Aon Risk Solutions, Jay Isaacson, Vice President of CUNA Mutual Group, and Mark Foley, a seasoned expert in business and legal security needs and the author of the eBook, What Every CEO Needs to Know about Data Security.
And the final panel of the day will be An Epic Perspective: Security Practices Must Be Built-In, Not Bolted-On, which will feature top management from Epic, the leading electronic medical records company as well as WPS Health Insurance, Presence Health, and Colony Brands.
For more information visit: www.fusionsummit.com
SOURCE WTN Media