Transcription of CYBER RISKS: THE GROWING THREAT
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CYBER RISKS: THE GROWING THREAT
CYBER RISKS: THE GROWING . THREAT . JUNE 2014. Robert P. Hartwig, , CPCU. President & Economist (212) 346-5520. Claire Wilkinson Consultant (917) 459-6497. insurance Information Institute 110 William Street New York, NY. 10038 INTRODUCTION. The CYBER risk landscape is evolving rapidly in a multitude of areas. Governments are facing an unprecedented level of CYBER attacks and threats with the potential to undermine national security and critical infrastructure, while businesses that store confidential customer and client information online are fighting to maintain their reputations in the wake of massive data breaches. The potential economic fallout from the CYBER THREAT cannot be underestimated. Economic thought leaders have warned of a digital disintegration, a scenario in which cyberspace could be completely undermined due to strengthening attacks where the Internet is no longer a trusted medium for communication or commerce, at a huge cost to economies and Businesses across a wide range of industry sectors are exposed to potentially enormous physical losses as well as liabilities and costs as a result of CYBER attacks and data breaches.
Insurance Information Institute 2 INTRODUCTION The cyber risk landscape is evolving rapidly in a multitude of areas. Governments are facing an unprecedented level of …
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