Dubai PR Network, Online Press Release from Dubai and Middle East
 
Technology, Computers & IT(Technology)
Filter PR by
  
Marsh Warns Cyber Storm Looms Over Global Energy Industry
 
Business Interruption Cited as Top Cyber Threat in Survey
 
Dubai, 6 March, 2018 –   According to Marsh, a global leader in insurance broking and innovative risk management solutions, energy executives are increasingly concerned about the impact of cyber-attacks on their operations. Over three-quarters (76%) of respondents to a Marsh survey cited business interruption (BI) as the most concerning consequence of a cyber-attack for the energy industry. 
 
Marsh’s report, Could Energy Industry Dynamics Be Creating an Impending Cyber Storm?, is released today at Marsh’s bi-annual Energy Industry Conference in Dubai. The report, which draws on findings from the Marsh-Microsoft Global Cyber Risk Perception Survey, looks at the most concerning cyber loss scenarios for energy executives, the industry’s understanding of cyber exposures, and how organisations plan to manage these risks in the future.
 
Key findings of the report include:
  • 76% of energy executives cited BI as the most impactful cyber loss scenario for their organisation, highlighting not only the growing threat cyber risk presents for the energy industry, but also the heightened risk any BI event could have on production and revenues.
  • Despite more than half of energy executives naming cyber as a top-five risk, 54% of energy executives have not quantified or did not know what their worst possible loss exposures could be.
  • 26% of energy executives surveyed said they were aware that their company had been victim to a successful cyber-attack in the past 12 months.
  • The energy industry plans to invest more in cyber risk management, with 77% of energy executives surveyed saying their organisations will increase levels of investment in cyber risk management, while 26% plan to purchase or increase their cyber insurance.
Andrew Herring, Energy and Power Practice Leader, Europe, the Middle East and Africa, Marsh, commented: “As the energy industry relies more on interconnectivity as a result of greater digitalisation, the potential for cyber-attacks to cause severe disruption to operations, loss of data, and, consequently, high financial losses, should be a key concern for energy executives. 
 
“While it is encouraging that three-quarters of respondents plan more investment in cyber risk management, it is worrying that over half questioned have yet to quantify their exposures. For those firms that have not put plans in place to mitigate and manage attacks or have not measured their cyber exposure, now is the time to take steps to be prepared for the impact an attack could have on their operations and systems.” 


Posted by : Dubai PR Network Editorial Team
Viewed 8888 times
PR Category : Technology
Posted on : Tuesday, March 6, 2018  12:49:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Iconic Bridge Project Connecting Hong Kong to Zhuhai and Mac...
Next Story : FortiGuard Artificial Intelligence Delivers Proactive Threat...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
24 Karat Gold Elixir by Mehrunisa Launches in the UAE Beauty Market [17202-Views]
Festive Gift Sets from Bubble T [16238-Views]
Get Ready for Party Season with Lottie's new make-up hits [16165-Views]
Holiday Gifting Made Easy with Wet n Wild Beauty Specials [15799-Views]
Tissot PR100 Lady Sport – Chic Glamourous Festive Season [15116-Views]
New 1948 Seamaster Watches Join the Ranks' [13743-Views]
Tissot PR100 Lady Sport – Chic Sporty yet Feminine [12712-Views]
Dubai Shopping Festival Wednesday Specials at The Smile Bar [12462-Views]
Interview with Asil Attar, CEO of Al Yasra Fashion [11651-Views]
CITIZEN's “#MyBetterStartsNow” campaign seeks out UAE's inspired and driven individuals [11212-Views]
Extra Fort Automatic continues to set style standards [11181-Views]
Model of the Year Takes Camo to Catwalk Level [10834-Views]
Johnny Depp Wears a Corum Bubble Skull [10693-Views]
DKNY Launches (Limited Edition) Holiday 2018 Collection [10431-Views]
Pure Gold Jewellers celebrates the festive season with new diamond necklace designs on ‘co... [9492-Views]
TIPS & TOES: January 2019 Special Offers [9309-Views]
Winter wool Christmas must- haves [8009-Views]
Samsung Galaxy A9 – Designed to capture the world in its fullest [7320-Views]
Chic and Stylish Wraps with a 3 in 1 effortless concept [6814-Views]
Michael Kors Collection Transeason 2019 Press Presentation [6673-Views]
Santa is Coming to Town! [6673-Views]
Marni Introduces Marni Rothko, A 7-layer Acetate Frame With a Vivid, New Color Palette [5923-Views]
New Menu alert: Moombai & Co. launches exciting and delicious food items to its menu [5704-Views]
9th Edition of China Homelife Exhibition to Have Over 3000 Exhibitors Across Business Sect... [5685-Views]
Els Back for the 30th Omega Dubai Desert Classic Aiming for a Record Fourth Victory [5392-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories