Palo Alto chairman, president and CEO Mark McLaughlin talks about the growing problem and costs of cyber attacks on companies. Bobbi Rebell reports.
Ever security a growing issue and make coffee one form many companies mark McLaughlin chairman president and CEO factory for how it works. It's here to share his insights that you were also here to talk about a new book that you contributed to that of navigating the kid is the definitive. Cyber security guards were directors and officers about a but I got out rated. On likely be at a frequency of attacks is rising sophistication tries as well as a result of that we're seeing more attacks if he's successful and that we need to read about the paper everyday. And that's part of the as part of the problem it is just that he feels like this onslaught there's nothing to do our trend that you're seeing in terms of which factors are vulnerable. I think it all sectors of probable not to date aha moment one of the reasons that this book is a viable for directors poetry companies is nobody's immune from this. The trick announced that turned the insurance orderly end of so when you talk to yes what is their biggest concern. Reputation on the injury they just don't wanna see themselves on the front page of the major newspapers the next day and have a reputation realistic it's the company. Companies are spending more money and just how much. Talking about the numbers and what this costs. Supposedly has this reports that it reaches IT spending is on the rise sisters rising portion of that as well lots presidents cup department expects to continue or. Some type that can't go on indefinitely and that's also wanted things to turn the page on it say. We get a better security posture and it better so Austin. So how do we do that and an insurance is a big part of this kid. Yup comes in church have been antiquities it will Wheatley the power of the networks is the way to get that unused you'd have to have that much that it's prevention oriented technology to its next generation agent trying to do the ads that don't don't give up. It is weekly this is actually possible future to some extent. The second thing is cyber hygiene everybody has to be better trained with their own information and have some personal responsibility. And a third is is that information has to be chaired very quickly highly automated fashion when those three things come together. I think we can dramatically change the landscape for what it is to take on the insurance front there is focus on server security insurance. Others reports of cost of that going up being unattainable for for for companies the reason for that is insurance companies are in the business. Quite high risk. The risk here is very quantifiable ways you know actuarial tables for this that's what it costs entrances. Going up exemptions are large deductions are large that's not gonna change until we get better. I thought talk about your company we had a record breaking Ian C Dell deal. Does it the fact that they appeal of this size could get could get done does that mean that maybe tell alpha networks to be part guilty. We had our interest is about the horses has been for very long time to be the largest independent enterprise security company. We think that there's an opportunity to view make history here the security industry perspective we feel it for making history right now. If you look at it that way from what I marchers today and we think with the court can acquire overtime in this. The value of that meal we think we could capture of yourselves for a new geezer reasoner needs is team. That's sad look and feel like makes its. I offer from Palo Alto. That he really didn't give the nation today but again we're mentions on our belief that thank you so much sir thank you. Our thanks to Palo Alto networks mark McLaughlin I've got your bell this is Reuters.