Raw Risk

Steps to ascertain Insurance Coverage

Likelihood of Consequence Risk Business Risk

Failure x of Failure X Mitigation = Score 1) Identify Exposure by inventorying the systems.

Understand type of information at risk,

how it is stored, who has access &
how it is segregated from other systems
Consider

System failure, Loss of

human failure, Proprietary
environment failure information
Financial
impact 2) Formulate a realistic data breach
Down time
Repair cost Determine replacement costs
Adjust for, Revenue and If employee records, customer info, vendor
aggravation
payment records, confidential/financial/
Operational impact on
customers and proprietary records or trade secrets gets
history
Maintenance clients destroyed, how to assess for financial
history damanges
Operating Low/Moderate/High levels for
environment assessment
External
stresses
Consider

Redundancy
Protection steps
Preventive measures
Consider 3) Quantify risk with real data breach cost statistics
and set amount for risk exposure in accordance to
Primary insurance needs.
Failure mode
Condition of
system
Performance
Reliability
Maintenance