Cyber risks

Globalization and rapid technological advances will fundamentally alter the way we live, work, and relate to one another. There are unlimited possibilities with technology breakthroughs in fields such as artificial intelligence, autonomous vehicles, robotics. However, the rapid expansion and reliance on technology and interconnectivity is creating new risks for cyberattacks.

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Managing cyber risks

  • Cyber criminals target the energy sector

    The energy sector is increasingly targeted by cyber criminals whose goal is to steal data, disrupt or even shut down power production and distribution operations. There are different factors that can increase the sector’s vulnerability and attractiveness towards cyber criminals.

    Lear more about these factors
  • COVID-19 accelerates cybercrime

    With the rise of digitalisation and remote work following the spread of COVID-19, companies have been racing to keep up with cyber criminals. As the pandemic continues to impact lives around the world, this ‘new normal’ way of working is posing challenges for companies and employees alike. How to mitigate the impacts of an attack on your company network?

    See some recommended practices and tips
  • Insiders, hackers and government attacks

    Cyber attacks are on the rise, both in intensity and frequency. Many companies are focusing on their IT security infrastructure and training employees to help prevent potential attacks.

    What do experts say about the future of cyber?
  • Cyber insurance market evolving with the support of reinsurance

    Information technology is widely seen as a major contributor to the growth of the global economy during the past decades. For example, business productivity, democratised information (alongside the emergence of fake news) and various other impacts caused by the digital revolution during the past two decades

    Learn about cyber risk transfer
  • Data at the core of mobility

    Internet of Things, Big Data & Artificial Intelligence will fuel new partnerships and ecosystems in the Insurance industry.  The recent advances in sensor and processing technology – as well as connectivity – are changing the game in the mobility ecosystem.

    Is your company prepared? Read more
  • Shopping for cyber

    The cyber threat is always evolving faster than the countermeasures against them are being developed. In the world of rapid digitalisation, no company is guaranteed to be fully protected against cyber threats.

    How to ensure proper coverage?
  • Trends in ransomware

    Ransomware is a very powerful weapon, causing a disproportionately high amount of disruption for the financial gain. In 2020, the ransomware business has further evolved, and the criminal gangs have come up with new business models. 

    How ransomware has evolved?
  • Taking the Assume Breach approach

    Against current and future cyber threats, it is important to have an ‘Assume Breach’ mindset. Sooner or later, a cyber incident will inevitably happen. Whether the attack is a smaller or bigger incident, it’s crucial that you have prepared yourself for such a situation.

    What is an ‘Assume Breach’ mindset?
  • The threat from within

    Employees today work very differently to those just 15 years ago. At the core of this, lies data and information which is increasingly valuable to criminals. By default, employees are expected to behave in a way that protects the company and secures its operations. 

    How to reduce the risk of insider threats?
  • Securing production at Danish Crown

    By conducting a risk assessment, you can detect existing problems, locate potential issues and review existing controls. Danish Crown Group, a food processing company and the leading meat processing producer in Europe,  places IT Security high on the corporate agenda.

    How to mitigate cyber-attacks on operations?
  • The promise of 5G

    The newest mobile technology standard 5G has plenty of promises in the core of the 4th industrial revolution. The technology is going to connect more devices in Internet-of-Things with low latency thus releasing the full potential of IoT and increasing efficiency and reducing costs on every level.

    Read more about the promise of 5G
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    Employees & cyber-attacks

    Cyber-attacks can cause serious business disruptions. Your own employees play an important role in fighting cyber threats every day. Unfortunately, employees often fail to consider why hackers might want to target them.

    Fight cyber-attacks together with your employees
  • industrial robots working on conveyor belt.

    Protecting your industrial control systems from cyber-attacs

    It is important to understand that hacking of Industrial Control Systems (ICS) may cause injuries, loss of life, material damage or business interruption. A Denial of Service (DoS) attack or a ransomware spreading across your organization can make production systems unavailable or misbehave.

    Learn how to protect industrial control systems

How your employees can help prevent cyber-attacks

Cyber-attacks can cause serious business disruptions. Your own employees play an important role in fighting cyber threats every day. Today, attackers often carefully profile the employees of the company they are targeting. This is done for example through social media and by researching publicly available information.

Keeping up-to-date on the most recent threats is vital to enforcing a secure environment. Security awareness actions and training of employees are just as important. 

Read the whole article

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The rise of cyber

The value of a company used to be determined by its physical assets, but today, most of the value comes from intangibles like data, intellectual property and technology.

There has been significant growth in the cyber insurance market in the past few years, the main driver being business interruption.

Additional complexity in managing cyber risks comes not only from the new technologies being adopted, but also from the increased growth and sophistication of attacks. Cyber risks touch clients from all industries, and companies of all sizes. Read the article

Cyber risk controls

Business drivers such as growth, profitability and competition drive this change to an 'extended enterprise'  as it makes organisations better, faster, and cheaper. However, this change also opens up organisations to new risks as they become increasingly dependent on interconnected IT systems and infrastructure exposing the organisation to new threats and vulnerabilities.

The tools and techniques used in cyber attacks, as well as the threat actors behind them, have also evolved. Nowadays, security breaches in high profile organisations are frequently headline news.

Read the whole article

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Global trade disrupted by cyberattacks

As an insurer we are well aware of so-called “Black Swan” events, i.e. events that are deemed so unlikely that they are not really taken seriously when calculating risks. For many years this has been the case with cyber risks. Imperceptible. Unlikely. Intangible.

In June last year, global shipping giant Maersk Line, which handles one in seven containers shipped globally, was hit by a ransomware attack.

Read the whole article

Roll-out of cyber insurance products

Today process automation is integrated by means of robots and technology which can no longer be replaced after a loss by hiring workers at short notice because they will lack the knowledge, skills, tooling, and space to do the same job at the same costs.

The protection of Information Technology (IT) and Industrial Control Systems (ICS) should therefore be given top priority because as the unauthorized operation of IT and ICS may cause serious business interruptions as we have seen in recent cyber-attacks (e.g. WannaCry and NotPetya).

During these last couple of years, it has become obvious that "cyber" is part of our everyday life, with more and more things being connected with the internet and more and more business processes being dependent on access to the internet. With this connectivity and accessibility also comes the exposure for malicious tampering with your systems.

Read the whole article

More and more dangerous cyber attacks in the horizon

Cyber threats are testing companies’ risk management. This is a particularly tough test, because a networked threat environment requires a networked defence – and a global threat requires global risk management.

Read the whole article

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Related topics

Blockchain is changing the business risks
There is plenty of hype around blockchain technology, which is a concept having the potential to change business processes, enable new businesses, and even revolutionize the world economy. According to a recent study by Juniper Research nearly two-thirds of large businesses are looking to deploy new blockchain projects.

Your data matters 
Data protection is more than a compliance issue.

Prevent email spoofing and keep information safe 
Do you know how your company can reduce phishing emails targeting your brand?

Internet of Things

There could be up to 80 billion devices connected to the internet and each other by 2025. The prevalence of wireless connection makes it attractive to connect to the internet all manner of devices. This leads to unprecedented automatization and improved efficiency and also new business models and opportunities through enormous amounts of data created and collected from all these sources. 

Autonomous ships - fact or fiction 
Could an autonomous ship, whose controlling software has been hacked from the shore or another ship, be regarded as a pirate ship?