Reputational risk from cyber kills businesses
Thursday, 06 29 2017, Category: Technology, Country: World
Inga Beale the Chief Executive of the Lloyd’s of London insurance and reinsurance market has warned today that it is reputational risks and fallout from a cyber breach that “kills modern businesses.”
With the recent WannaCry ransomware attacks, and the ongoing impacts of Petya or PetrWrap which is a current attack, cyber is moving up the corporate agenda and the potential costs are becoming better understood.
“The reputational fallout from a cyber breach is what kills modern businesses. And in a world where the threat from cyber-crime is when, not if, the idea of simply hoping it won’t happen to you, isn’t tenable,” Beale explained today.