Sri Lanka Insurance hosts a Cyber Risk Awareness Forum

Sri Lanka Insurance (SLIC) recently hosted a Cyber Risk Awareness Forum for Bankers of Sri Lanka at Ramada, Colombo. The programme was attended by Chief Executive Officers, Chief Risk Officers and Chief Information Officers of Licensed Commercial Banks. K. G. P. Sirikumara, Assistant Governor of the Central bank of Sri Lanka was the Key Note speaker at this special forum, SLIC said in a media release.

Banks and financial institutes are one of the industries that are most vulnerable for cyber risks in any economy.  Understanding the severity of Cyber Risks banks may face, Sri Lanka Insurance came forward to facilitate the much needed Cyber Risk Awareness forum for the Banking Sector of Sri Lanka.  This special awareness session was carried out with TURTLEMINT from India, which is an insurance and reinsurance broker company. 

This special forum was organised to educate the decision makers of the banking sector about the potential cyber risks and vulnerabilities faced by banks and financial institutions, challenges Chief Risk Officers, Chief Technical Officers, Chief Information Officers have to face, proactive measures a banks needs to take to mitigate cyber risks and enhance the overall cybersecurity position of the bank and encourage them to develop and implement comprehensive cybersecurity policies and procedures. Furthermore, the session stressed on the importance and benefits of having a cybersecurity insurance as a precautionary measure.

An interesting and important line up of topics were discussed during the awareness session such as Roles and Responsibilities of external or ancillary stakeholders, exiting policies and regulations and the Data Protection Act 09 of 2022.