Cyber insurer Zurich‘s Global Head of Special Lines Lori Bailey has published an article outlining the ins and outs of cyber risks.
See where cyber risks originate, how they accumulate and how they can derail mission critical aspects at every level of your business.
The consequences of cyber risks can disrupt critical business infrastructure and derail productivity at the operational level. Here’s a complete look at where they originate, what they target and their consequences.
Cyber Risk Sources
- Human error accounts for 52 percent of cyber breaches, according to a study by CompTIA.
- Creating resilience to cyber risks requires focus on educating and training employees
- Indirect targets of cyber encroachments are as significant as direct targets.
- Access to financial information, for example, could put at risk the financial information of a private company that is a customer.
- This underscores the need for a holistic view of cumulative cyber risks.
- The consequences of cyber risks are not limited to lost data.
- Transactions can fail; supplies or products can be misdirected.
- Manufacturing can be halted or output faulty goods; safety issues can cause injuries.
- Dissatisfied customers can turn elsewhere.
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