Cyber threats: Living with disruption

In a consistently more disruptive and volatile cyber threat landscape, ransomware attacks have continued hitting the headlines, keeping risk professionals across the profession up at night. Ransomware has rapidly become the key cyber threat to organisations globally. This despite an increasingly active and disruptive geopolitical threat picture with individual organisations, global supply chains and critical infrastructure also increasingly targeted by state-linked actors. As such, the growing and evolving digital ecosystem is both an existential risk and invaluable opportunity for all. Companies that treat it as such and understand the overarching drivers of risk to the digital ecosystem will be better equipped to successfully navigate the complexities of the evolving threat landscape. This approach will prove the most effective and sustainable in building secure, compliant, and resilient businesses in the information age. For organisations, mitigation measures – built on proactive, threat-led cyber security solutions and well-rehearsed and realistic cyber crisis scenarios, including ransomware – can prevent increasingly capable criminal, state, and non-state threat actors from forcing your business into unnavigable situations. 

In the almost 50 years that Control Risks has supported clients across the globe, the political, technological, environmental, and societal landscape has changed beyond all recognition. This has created wealth and opportunities, but also conflict and uncertainty. Against this backdrop, Control Risks embarked on this study with our partners at Airmic to understand how risk professionals and their organisations are tackling cyber threats today. We hope in turn that this report will be of value to all those seeking to enhance their understanding of the cyber threat landscape, to fine tune risk management strategies to navigate the shifting tides in the global digital threat landscape.

Airmic conducted its annual member survey in the third quarter of 2021, enhanced by qualitative input from Airmic member roundtable discussions and observations from organisations that are stakeholders in the management of risk. Airmic is the leading UK association for everyone who has a responsibility for risk management and insurance for their organisation.

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