Is Cyber Risk Limitless or can it be Really be Insured?

A cyber-attacker hacking into an organisation's network

The explosion of IoT devices today provides fertile ground for such fears in a dramatically changing cyber risk landscape, creating new product vulnerabilities and system exposures for organisations that make or deploy them.

In its Insight, “The Internet of Everything: Building Cyber Resilience in a Connected World,” global broker Marsh explored how internet-connected devices – from toys and refrigerators, to medical devices and industrial control systems – are introducing or increasing cyber risk for businesses that design, manufacture, service or use IoT products.

Smart technology that connects once-siloed computer systems and devices to the Internet can expose organisations to cyber threats they haven’t traditionally considered or mitigated.

Cyber-attacks that interfere with IoT-device functions, such as vehicles or pacemakers, can pose a danger to human life and property. In such a connected world we ask the question: is cyber risk limitless and can it really be insured?

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Post Date: 17/10/2020

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