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 and take the cyber risk test developed by our network partner Marsh. The results will reveal whether your company's financial loss potential is high or moderate and whether your financial loss exposure is insurable.
Cyber risk survey report 2018, cyber risk from a swiss perspective
The «Cyber risk survey report 2018, cyber risk from a swiss perspective» is based on the results of the «Global Cyber Risk Perception Survey» published by Marsh in February 2018. More than 1,860 companies worldwide took part in the cyber risk survey; 386 of which are from Europe, including 178 (15 %) of our Swiss customers.
The increasing use of outsourcing services may well reduce operating costs, however this is usually at the expense of data transparency, in particular in terms of where data is located and who ultimately has access to it. The failure of a centrally-managed IT system harbors serious calculable accumulation risks. Different operational areas/locations can thus be affected by a cyber attack simultaneously and in different ways, or attackers can obtain access to all the IT systems and software programs of different firms by attacking an IT provider. As the survey shows, companies often fail to include reliance upon suppliers in their internal cyber risk management process.
Furthermore the results show that 56 % of Swiss companies already include cyber risks in their top five company risks. Nevertheless, in our opinion, the gap between awareness of cyber attacks and the steps that are being taken to manage them is still wide. There is a clear need for action in this respect.
Please find the complete reports under publications.
By the numbers: Global Cyber Risk Perception Survey
A publication of Marsh.EN
GDPR Preparedness: An Indicator of Cyber Risk Management
A Marsh survey in collaboration with Kessler on the GDPR preparedness of companies. EN
Continental European Cyber Risk Survey 2016
A Marsh report on companies’ approach to cyber risks. EN
Cyber Risk: Risikomanagement und Versicherbarkeit
A study in cooperation with the Institute for Insurance Economics of the University of St. Gallen (I.VW-HSG). DE
Questions? Speak to your contact partner for cyber risks.