The average cost of cyber incidents is higher than ever. According to a 2022 IBM Security report, the average cost of a data breach was $4.35 million.
In this video, Tom Callaghan the co-founder of C-Risk explains how to reduce the cost of cyber incidents using risk quantification and the loss chain concept.
Tom covers the FAIR Institute model, different loss types and C-Risk's definition of loss chain.
00:11 How much will a cyber incident cost me?
00:51 The FAIR Institute Model
01:23 What is a loss type?
02:33 The C-Risk loss chain definition