Aviation behind the curve on cyber threat

The aviation industry is behind the curve in terms of its response and readiness to the threat posed by cyber criminality, according to Peter Armstrong, head of cyber strategy for Willis.

Speaking at the Willis-IATA-AAPA Aviation Insurance conference in Hong Kong, Armstrong explained that the aviation industry’s under-preparedness is noteworthy in a sector that abhors uncertainty and works tirelessly to eradicate it.

He added that the recent launch of the American Institute of Aeronautics and Astronautics (AIAA) cyber security framework is a good start, supported by the International Air Transport Association (IATA) aviation cyber security tool kit.

However, he warned that regulators, manufacturers and operators are only now waking up to the pervasive nature of cyber threats.

“We remain concerned that cyber risk is not viewed as a significant enabler, amplifier or accelerator of existing risk in the portfolio as well as discrete cyber risk posed for example through use of cloud technologies. This is a board room issue representing a sophisticated challenge to sophisticated organisations,” said Armstrong.

“Risk management professionals need to bring a focus to this issue and represent it to their Boards as a significant extension of existing risk as well as an incremental risk to their businesses. While we believe this is predominantly a risk management issue, the insurance industry has a role to play and must ensure that it has the appropriate solutions on offer not only to help companies deal with the financial fallout from cyber breaches, but also to recognise the significant impact cyber has on existing categories of risk and respond with appropriate risk transfer solutions.”