Cyber Resilience Perspectives
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Read morePerspective Governing Artificial Intelligence The explosion in AI usage by businesses over the past few years has driven an unmistakable inflection in innovation, efficiency, and profitability. However, it has also exposed firms to ethical pitfalls and wasted investments, making effective governance and risk management vital. -
Read morePerspective Ransomware: Remove Response Paralysis with a Comprehensive Incident Response Plan Ransomware attacks are becoming more frequent, severe, and sophisticated. For affected organizations, it’s not uncommon to be caught off guard and experience a “paralysis” that lessens response effectiveness. In the past year, approximately 51% of organizations globally suffered a ransomware attack. The escalation in attacks —involving higher ransom payments and increased downtime—has significant financial and operational impacts. Organizations should anticipate and prepare well in advance for the possibility of ransomware attacks. Below, we explore how organizations can avoid response paralysis and what they should consider before, during, and after an attack. -
Read morePerspective Ransomware: Paying Cyber Extortion Demands in Cryptocurrency One of the most common and serious cyber-attacks involves ransomware, in which a threat actor locks an organization’s data with encryption until a ransom demand is met. These attacks are increasing not only in number, but also in severity. In the first half of 2020, average ransomware payments increased by 60%, with bitcoin used for most payments. Bitcoin accounts for approximately 98% of ransomware payments. Whether an organization pays the ransom or attempts to recover the data independently, a clear understanding of bitcoin is essential for cyber incident response planning. -
Read morePerspective Ransomware Attacks: 5 Actions for Education Entities With students around the country having returned to school, either in-person or virtually, the risk of a cyber-attack on educational institutions is heightened. Schools have often fallen victim to cybercriminals. In 2019, educational entities – including K-12 schools and higher education institutions – accounted for three in five of recorded ransomware attacks. This underscores their vulnerability and the need for them to consistently monitor their systems and have robust incident response plans in place if they are targeted by criminals. And the stakes are even higher this year. -
Read morePerspective Why 2020 Has Made the Ever-Evolving Cyber Landscape Even More Dynamic The insurability of systemic cyber risk will be one of the defining issues of the next decade for the (re)insurance sector. Rapid technological changes and digitalization in particular have already transformed the characteristics of risks assumed by the (re)insurance market. -
Read morePerspective Adapting Cyber Incident Response Plans for the Remote Workforce The COVID-19 pandemic prompted many organizations to rapidly move to a remote workforce, which often required IT teams to quickly expand the available network bandwidth and to modify the “normal” operating model to keep the business running. In supporting significantly more remote workers, IT teams may have bypassed their normal processes and procedures, thereby likely violating, weakening, or eliminating their IT and security policies. -
Read moreWebcast Navigating a World of Elevated Risk: Implications for Cyber Risk Management Paul Mee, Tom Fuhrman, Bob Parisi talk about the new normal of heightened risk and how to adapt your practices and policies for this long-term reality. COVID-19 has fundamentally reshaped the world, and the cyber threat landscape is no exception. The pandemic has accelerated changes that were already occurring in cybersecurity – most notably, a high level of teleworking and shifting business practices. Businesses must be able to manage the IT and security impact of a largely remote workforce, balancing those changes against a threat landscape that features more frequent and severe cyber-attacks. In this webcast, cyber experts from Marsh and Oliver Wyman explore how: Climate change, political unrest, and a pandemic—among others—have combined with rising cyber-attacks to create a world of elevated risk. The increasing use of technology coupled with the pandemic has created more opportunities for exploitation. Restructured working patterns and changing business models have dramatically altered the threat landscape changes to cyber insurance markets, policies, and buying considerations affect businesses. -
Read moreJournal MMC Cyber Handbook 2021 Cyberattacks are among the most severe and likely risks facing business leaders in advanced economies, according to the latest Global Risk Report, published by the World Economic Forum with support from Marsh & McLennan. -
Read morePerspective Digital Deception: Is Your Business Ready for “Deepfakes”? Supported by advances in artificial intelligence, deepfakes have proliferated across the internet as the technology becomes less expensive and more accessible. -
Read moreReport Looking Beyond the Clouds: A U.S. Cyber Insurance Industry Catastrophe Loss Study A Guy Carpenter and CyberCube Analytics collaboration explores the size and shape of cyber catastrophes and the resulting financial impact on the U.S. cyber insurance industry -
Read morePerspective Prepare to Protect Your Customers’ Voices Digital assistants are always listening, creating a significant security risk as the threat of voice-based cybercrime grows. -
Read morePerspective Is Your Company a Risk to Others in the Supply Chain? The concept of “technological social responsibility” — the recognition and acknowledgement by each organization of its cybersecurity obligations within the supply chain — is now on the agenda for many industry leaders. -
Read morePerspective Don’t Forget Your Cyber Risk Sentries The exponential surge in the numbers of employees working from home (WFH) during the COVID-19 pandemic is increasing organizational cyber risk in terms of overall number of potential threats and the potential impact of those threats. -
Read morePerspective Silent Cyber No Longer Silent? Silent (or non-affirmative) cyber refers to cyber-related exposure within many all-risk general insurance products. If no explicit cyber exclusion applies, coverage for losses caused by cyber perils may apply. This underlying exposure’s potential for aggregated loss is currently one of the major issues being considered by the re/insurance industry. -
Read moreVideo Managing Cyber Risk in Life Sciences Technology Life sciences and technology companies are increasingly aligning to pursue advances in life science technology that enhance the quality, speed, and sophistication of patient care. However, these advances also introduce new cybersecurity risks and regulatory oversight that must be managed. And, in the COVID-19 era, the use of medical tracking and diagnostic technologies intensifies the need to address such risks. -
Read moreVideo What Remote Work Means for IT Professionals Organizations are past the hurdle of enabling people to work remotely and now are contending with IT and security consequences. IT teams need to monitor and support bandwidth, security, privacy, and even printing. What are the implications for Chief Information Officers, IT managers, IT support staff, and staff working with, depending on, and collaborating with IT?
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Prior to #COVID19, 35% of #HR leaders said flexibility policies were not widely promoted. Now, 90% of companies offer flexible working options. @mercer shares insight: https://t.co/S6M9hmY5CU #employeeexperience #futureofwork https://t.co/hOpmlepo6x
The Federal Reserve’s new plan to simplify legacy LIBOR #loans may change the shape of the transition for 2021. @OliverWyman shares insight: https://t.co/urI1ybnvbY #economy #finserv https://t.co/71w3lvZW53
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"#Robotics, #remoteworking and #artificialintelligence are going to have a dramatic impact on the workplace and on culture.” Our President & CEO, Dan Glaser discusses #cybersecurity and the #futureofwork with @alwynscott of @Reuters: https://t.co/IV1s0YsRGn https://t.co/zrS4VcR2yY
We're seeing businesses being harmed by the effects of climate change, from severe floods to wildfires. Learn how private and public stakeholders can adapt to this changing #risk landscape: https://t.co/HvOooJVMjF #naturaldisaster #COVID19 https://t.co/UuXC3GXc6C
Prior to #COVID19, 35% of #HR leaders said flexibility policies were not widely promoted. Now, 90% of companies offer flexible working options. @mercer shares insight: https://t.co/hHKyTYgA0b #employeeexperience #futureofwork https://t.co/jKbIid6i9P