Cyber attacks have become the most prominent threat or disruption to business entities in recent years. Corporate entities are concerned about damages to their brands, the stability of revenues, and the safety and privacy for their employees and customers because criminals have become more sophisticated at figuring out standardised security and evading defences.
Specifically, cyber attacks present unprecedented challenges to 21st century enterprises because of the speed of occurrence and severity of damage, along with the enterprise’s vulnerability to keep up with the evolving complexity and volume of cyber threats.
This article sheds light on:
• The unprecedented challenges presented by cyber risks.
• How businesses can take a proactive approach with cyber insurance.
• How advanced cyber risk modeling can help brokers and insurers overcome the technology gap.