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.

By Caroline Bødkerholm

On the 19th of January, If Insurance hosted a webinar ‘The future of cyber-crime’. We were proud to introduce, Mikko Hyppönen, global cyber security expert from F-Secure, and Mark Anthony Fiedel, Head of the Analysis department in the Danish Centre for Cyber Security (CFCS) as our key speakers in the webinar. Presentations focused on the future of cybercrime and espionage.

In his presentation, Mark Anthony Fiedel talked about the role of the CFCS, and focused on the different reasons why hackers attack, as well as highlighted the risk of cyber espionage. He explained that, “espionage attempts happen every day, however unlike criminals, foreign states and their intelligence agencies don’t want their crimes exposed in the news.”

In Mikko Hyppönen’s presentation, he emphasized that the security landscape never stands still, and that we see new types of threats from an increasing number of attackers, all the time.

He notes that, "In the early days, we were fighting kids who were writing viruses for fun. Today we, and you, are fighting against organised crime, foreign nation states, intelligence agencies, foreign militaries, extremist groups and activists or hacktivists, and more."

Mikko Hyppönen further raised the questions; How are we going to tackle cybercrime in the future? What are the trends that are shaping our industry?

Mikko Hyppönen, F-Secure

The cyber security landscape never stands still.

 A panel discussion followed the presentations, hosted by Kristine Birk Wagner, Nordic Head of Underwriting at If that were well received by our approximately 400 participants. 

If’s Head of Digital Risks & Cyber, Mikko Peltonen, joined in the panel discussion.  He notes that, "Digitalisation is an important enabler, playing an important role for businesses, individuals and for society as a whole: However, we are only seeing the tip of the iceberg when it comes to what the future will hold for cyber and IT security."

Mikko Peltonen leads the newly established Digital Risks and Cyber unit within If’s Industrial BA. The unit oversees Nordic underwriting and risk management of If Industrial's cyber insurance portfolio. He explains, that “Cyber insurance is not a silver bullet solution, rather one more tool in the toolbox in the fight against cyber criminals.”   

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