Addressing cyber risk: Enterprise-wide changes in the pipeline for 2018
From the adoption of standalone cyber insurance policies to the widespread rollout of multi-factor authentication, 2018 is set to be a busy years for CISOs.
As cyber-attacks continue to grow in both volume and scale, enterprises will be forced to take new measures to address these risks throughout 2018, according to a new report from Aon.
Compiled by the group’s Cyber Solutions division, the newly-published 2018 Predictions: Trends in Cybersecurity paper outlines a number of specific actions that Aon believes companies will take to address cyber-threats in 2018.
Highlights of the report include the prediction that enterprises will adopt standalone cyber insurance policies as boards and executives wake up to cyber liability; EU regulators are anticipated to hold major US and global corporations to account for GDPR violations; and criminals are primed to explore new, illicit opportunities brought about the Internet of Things.
Moreover, as passwords continue to be hacked and attackers circumvent physical biometrics, Aon expects multi-factor authentication to become more important than ever, while businesses are expected to ramp up their insider risk mitigation strategies.
“In 2017, cyber-attackers created havoc through a range of levers, from phishing attacks that influenced political campaigns to ransomware cryptoworms that infiltrated operating systems on a global scale,” said Jason Hogg, CEO of Aon Cyber Solutions.
“In 2018, we anticipate heightened cyber exposure due to a convergence of three trends: first, companies’ increasing reliance on technology; second, regulators’ intensified focus on protecting consumer data; and third, the rising value of non-physical assets.
“Heightened exposure will require an integrated cybersecurity approach to both business culture and risk management frameworks,” Hogg added. “Leaders must adopt a coordinated, C-suite driven approach to cyber risk management, enabling them to better assess and mitigate risk across all enterprise functions.”
Click here to download the full report.