In operational technology (OT) networks, it is COST that is the driver behind nearly all cyber risk mitigation investments. Sometimes contrary to business trends, cost supplants security as a priority because security in the form of cyber risk always has a cost associated with it. In the industrial sector where legacy infrastructures are common, the cost of cyber risk can be significant. However, that 'cost' isn’t always so clear. In fact, it nearly never is, and there lies the trillion-dollar problem. Of course, the notion that cyber risk has a cost is obvious. Yet the cost of cyber risk is still neglected by the many cybersecurity solution providers and the insurance underwriters serving industrial organizations within energy, transportation, and manufacturing. No one can be blamed for this oversight because quantifying cyber risk is hard. Cyber risk has many different contributing variables. Cyber risk is dynamic, volatile, and contrary to other sources of risk, cyber risk is subject to human factors ranging, such as motive. Furthermore, sometimes digesting and managing the cost of cyber risk after quantifying it is even harder. Yet, it must be solved.
Jose M Seara
Jose M Searsa is the founder & CEO of DeNexus, Inc. With 25+ years of experience building companies in the critical infrastructure space, Jose created DeNexus out of need to better quantify and manage his organization's exposure to cyber risk. Jose found cyber risk management was expensive, inefficient, and left the organization exposed to information gaps and inadequate insurance products. DeNexus not only to helps address a problem Jose was experiencing first-hand as an ICS/OT Asset Owner, but to fill the gap which tens of thousands of companies also experience in critical infrastructure and reinsurers of risk. Jose's former role prior to DeNexus was the President & CEO of NaturEner USA LLC & NaturEner Energy Canada Inc. NaturEner develops, builds and operates utility scale renewable projects in North America. Using advanced technology to integrate renewable energy and leveraging ownership of strategic transmission positions, allowed the company to disrupt the market, unlocking investment opportunities in non-traditional PPA or centrally cleared markets.