THE GREATEST RISKS OF THE 21ST CENTURY
The dangers posed by cyber risks are gaining in importance in the everyday business world. Estimates suggest that more than 90% of companies are victims of cyber attacks every year. The loss of data and IT disruptions can have enormous financial implications for the companies in question.
Efficient cyber risk management can significantly reduce the likelihood and the extent of the damage and losses a company sustains from such attacks. The residual risk that always remains must be able to be financed and not jeopardize the company's very existence. The decision about how to deal with cyber risks is one made by management and an element of good corporate governance.
Kessler's five-strong Cyber Risk team will assist you in making a conscious decision about how your company responds to cyber risks. We have extensive expertise of cyber risk management and cyber insurance, as well as experience in addressing all the associated legal aspects. Find out more in our publications.
CYBER RISK & INSURANCE
If we look back at the situation five, just five, years ago, the question at the center of any advisory session was always the same: “What exactly could happen to us?”
Based on hundreds of discussions conducted with Swiss companies, it is now safe to say that corporate decision-making bodies are more than aware of the cyber risks lurking out there. Companies are familiar with the various scenarios, have quantified their cyber risks and insured any outliers. Working hand-in-hand with insurers, we have continually enhanced the products available, and insurers and brokers now settle a large number of claims. The learning curve was a steep one for all of us at times. In summary, our experience shows that Swiss companies have become more robust and, most importantly, are prepared in the event that something should happen.
In the third updated edition of the Cyber Risk & Insurance publication we acknowledge the new legal aspects and share our experience in managing cyber risks.
