New York state and New Jersey need at least $71.3 billion to recover from the devastation wrought by superstorm Sandy and prevent similar damage from future storms.
Catastrophe risk modeling firm EQECAT Inc. estimates $5 billion to $10 billion in insured losses and $10 billion to $20 billion in total economic damages from Hurricane Sandy.
We often talk about business continuity in practical, pragmatic terms. But it’s important to remember that when a crisis hits a company, no matter how well prepared that company is, emotions will run high.
It is five years since the publication of Nassim Nicholas Taleb’s book The Black Swan. In the book, Taleb introduces the concept of Black Swan events, which he characterizes as events that are 1) rare; 2) extremely impactful and 3) often endowed by people – after the fact – with elements of predictability. Taleb argued that uncertainty cannot be tamed, in his words, and that it is foolish to attempt to tame it.
Security leadership and value is being tied directly to business unit and organizational goals as the best measure of its contribution. So directly tied, that business unit leaders are paying for risk management and security as a direct service versus an allocation. Further, these internal customers view security as a consultancy, and they are routinely seeking their advice to understand and manage risks enabling them to reach their objectives. The transparency of this relationship allows the business unit to identify security’s value to achieving their goals, resulting in increased reliance, use and spending with security.