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 7863 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
Global brands with lowest cost at Karama Ware house sale from this Thursday [29439-Views]
Glam's Makeup Launches in the Middle East [16189-Views]
Review: Facial with Dr Renaud's range at Nazih [15866-Views]
CFB T3 000 Manufacture Movement Pioneering Peripheral Technology [14866-Views]
Glasshouse Collection from Olivia Burton [14585-Views]
CALVIN KLEIN WOMEN: The first CALVIN KLEIN fragrance developed under the vision of Chief... [14512-Views]
Anivagene Launches in the UAE [14103-Views]
Mr. Burberry Indigo Eau De Toilette [12895-Views]
Hour Choice presents Coach New York Collection [12261-Views]
Prevention, Not Cure: Kaya's ‘Hair Strength Therapies' Set to Rid the Gulf of its Hair Pro... [11999-Views]
Tommy Hilfiger Iconic Sport collection [11035-Views]
Matthew Fitzpatrick Wins the 2018 Omega European Masters [10718-Views]
Executive Tourbillon Free Wheel [10632-Views]
Introducing New Make-up From Rodial That You Need In Your Kit [10022-Views]
Australia's Number No.1 Natural Skincare Brand* Partners With Jessica Kahawaty [9595-Views]
Rado reimagines a bold 1960s classic for the 21st Century [8266-Views]
Scuderia Ferrari presents Fall winter collection [8150-Views]
Kate Spade New York Presents Debut Collection From Creative Director Nicola Glass at the ... [7058-Views]
Introducing VK Beauty Lounge & Bar [6295-Views]
Tata Communications Strengthens Cyber Defence in the Middle East with the Launch of its Cy... [6228-Views]
Samsung Launches the New Galaxy Watch in the UAE [6222-Views]
Rolls-Royce Motor Cars Takes the Luxury of Privacy to a New Level [6118-Views]
Facebook Launches Community Help on Facebook Lite [6082-Views]
Dubai Culture Organises ‘Writing Literature Novels and Editing them as Play Scripts' as pa... [5710-Views]
Alina Anwar Couture Launches in UAE [5655-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories