A speaker from the European Union Agency for Cyber Security told delegates at the Ferma Forum that they are developing cyber security standards that can be scaled to fit SMEs and will help improve cyber risk management across Europe and within supply chains.
Hosting a session on day two of the meeting in Copenhagen, Ferma vice-president Philippe Cotelle said he wants to see a “reference” cyber standard for EU SMEs struggling to come up with their own cyber security policies.
He said there is a lot of concern in Europe that SMEs do not have adequate cyber risk management in place or take out insurance to cover losses.
“So I think we should have reference standards that are suitable for SMEs that would be a real goal for them to know what to do to implement cyber security. If we do that, the insurance companies will also be happier with to insure them. So we would have better cyber protection and cyber risk management across Europe,”; said Cotelle, who is also head of cyber insurance and head of insurance risk management at Airbus Defense & Space.
He said it would be far better for the EU to come up with its own cybersecurity standards rather than waiting for the US, for example, to impose its requirements on European companies operating in the country.
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