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IDXs Vice President Ian Kelly Urges Businesses to Evaluate Ransomware Attack Ramifications at NetDiligences Cyber Risk Summit

Enterprise Security Magazine | Friday, July 30, 2021

Leading cybersecurity authority joins panel of experts in simulated ransomware attack scenario

PORTLAND, Ore. - Ian Kelly, vice president of IDX, engaged in an interactive business scenario panel that revolved around a simulated ransomware attack. IDX is a leading privacy platform and data breach services provider

NetDiligences Cyber Risk Summit featured a number of thought leaders in cyber insurance, data security technology and data breach law who participated in cross-functional panels, workshops and roundtable discussions to address a broad range of cyber-related topics, including coverage challenges, loss control, security technology, and emerging risks in the cyber arena.

In the last 12 months alone, there has been a steady rise in ransomware attacks among businesses. Between JBS Foods and Colonial pipeline, KIA motors, and more, national corporations are at risk and are finally understanding the scope of the problem and the need for a cybersecurity plan. Experts predict that a ransomware attack happens every 11 seconds, and by 2025, organizations will invest more than $1 trillion in their cybersecurity.

Ransomware attacks among businesses are on the rise, and I truly believe that, in order for corporations to be protected, they must be prepared for when an attack may occur. Adopting this thinking can better help corporations prepare for incident response and mitigation, said Kelly.

In the Interactive Business Interpretation Scenario panel, Kelly, along with fellow panelists, addressed a ransomware attack on a business. As the situation unfolded, Kelly and panelists worked with the audience to make decisions regarding system restoration, negotiation, payment, legal ramifications, notification, public relations, and more. Each time new information was revealed, there was a break in the action for a live table discussion. Following the discussions, participants helped guide the company\'s next actions by making selections on their mobile phones.

Ian Kelly was joined by fellow panelists Ed Finn, a partner at Mullen Coughlin; Elissa Doroff, managing director at NFP; Gina Greenwood, co-chair of the Nelson Mullins Data Breach Response and Investigation Team; Meredith Griffanti, managing director at FTI Consulting; Bill Hardin, vice president of Charles River Associates; Jae McKinney, founder and chief product officer at Infiniqo; Michael Nelson, managing partner at CYBIR, and Jonathan Rajewski, managing director at Stroz Freidberg.