Cyber Risks: An insurance perspective
Both socially and in business, we are increasingly using IT systems to interact with one another and to buy things.
Socially and professionally, we are increasingly using mobile internet devices and IT systems to interact with one another. Jillian Raw points out how exposed we are to cyber risks and how insurers can step in to provide some form of protection to individuals and corporations.
The rapid development and growing range of mobile internet devices – from smartphones to tablets – has further increased our use of online systems. Although the internet with its incredible connective power has created opportunity on a vast scale, there is a darker side to cyberspace. The variety and sophistication of cyber risks have increased to such an extent that, in 2011, the World Economic Forum named cyber attacks as one of the top five threats facing the world.