The Head of Cyber, Tech and Media at JLT, Sarah Stephens, discussing the non-liability threat of attack.
This really highlights the need for a collaborative approach to Cyber risk management, particularly in an industrial world that is making rapid technological advancements.
Much of the focus on cyber risks from businesses and their insurers has been on data protection, particularly protecting consumer details. The focus is likely to increase in Europe as the forthcoming EU General Data Protection Regulation nears implementation. However, other cyber risks are being ignored by many firms. Privacy breaches and consumer data losses are just one small element of cyber risk. Sarah Stephens, Head of Cyber, Technology and Media E&O at JLT Specialty explains why Risk Managers should be concerned about industrial control system events, the industry’s most likely to be affected, what cyber incidents we know have caused physical damage and finally what clients can do to mitigate these risks.