Protecting supply chains and industrial control systems from cyber attacks
Connected technologies as a tool are undoubtedly a benefit in what many now term the fourth Industrial Age. From the internet of things (IoT) to better connectivity through 5G, industries enjoy greater efficiencies, lower costs and are better placed for growth and innovation as a result of technological innovation.
But with increased reliance on technologies comes greater risk, notably business interruption from cyber attacks. On a smaller scale, these directly impact only the business concerned but the effects of cyber attacks have the potential to mushroom into something far bigger. How to protect not just our own industries but the wider community from physical damage as well as financial disruption is an important consideration.
On top of the potential threat is the recognition that some form of cyber attack is not just likely, it is inevitable. Bad actors are developing their strategies all the time. The best defence is therefore preparedness. To find out just how well the insurance industry is prepared to combat cyber attack itself, and to protect its clients, Intelligent Insurer got the inside track from Jenna McGrath, senior cyber economist at CyberCube.
This article is published ahead of the Intelligent Insurer webinar “Address Business Interruption in a Hyper-Connected World: Protecting Supply Chains and Industrial Control Systems from Cyber Attacks” on April 20, 2021.
