Article / Risk Management
Reducing Cyber Exposure for Singapore SMEs and Start-Ups

Cyber security is a prominent and timely issue, with many global markets suffering from high profile attacks. These attacks are costly for business, even when covered by insurance. To help combat cyber risk, Peter Jackson, CEO of Lockton’s Singapore office, offers tips to small and medium-sized enterprises (SMEs) in a recent article for the Singapore Business Review.

“SME owners and investors need to be aware of cyber risk and should seek to understand the impact and solutions needed for strong levels of security,” said Jackson. “Operationally, companies need to setup specific lines of defense.”

These lines of defense include policy and regulation, IT operations, crisis management, and financial protection.

“It is fair to say that all businesses are at risk, but a billion dollars is nothing to a large bank when compared to an SME who loses everything,” said Jackson. “SMEs and investors need to ask how they can minimize the risk of attack, but also how they can protect their investment if such an attack is successful.”

Read the full article.

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