Sri Lanka insurance hosts a Cyber Risk Awareness Forum

Friday, 15 September 2023 - 21:12

A special awareness program for the Banking sector of Sri Lanka

Sri Lanka Insurance organized a Cyber Risk Awareness Forum for Bankers of Sri Lanka on the 24th of August at Ramada, Colombo. The program was attended by Chief Executive Officers, Chief Risk Officers and Chief Information Officers of Licensed Commercial Banks. Mr. K. G. P. Sirikumara, Assistant Governor of the Central bank of Sri Lanka was the Key Note speaker at this special forum.

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 organized 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. The key note speech addressed the compliance framework of cyber Insurance & impact on the banking sector which was delivered by the Assistant Governor of CBSL Mr. K. G. P. Sirikumara.  Furthermore, the resource panel had engaging sessions which gave the opportunity for the participants to have direct dialog and have their queries answered.

Going beyond their call of duty, Sri Lanka Insurance as a responsible corporate citizen continues to add value to its customers, business community and the public through numerous initiatives.  The organization saw that creating awareness on Cyber Risk is a need of the hour hence the organization took the necessary steps to arrange this successful program.

In Picture:
Top Left:Mr. K. G. P. Sirikumara - Assistant Governor - Central Bank of Sri Lanka
Top Right: (L-R) Mr. Vijayanand Subramaniam Chief Operating Officer – Transasia Soft Tec and Mr. Abhyudaya Das Director - Turtlemint
Bottom Right: (L-R)Ms.  Thanuja Danwatte Chief Executive Officer – Imperial Specialty Insurance Brokers, Mr. Chandana L. Aluthgama Chief Executive Officer (SLIC), Mr. Priyantha Perera Chief Operating Officer – General Insurance (SLIC)
Bottom Left: Participants at the Cyber Risk Awareness Forum

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