Organisations are much more resilient to cyber threats than they used to be. But the landscape is moving quickly with artificial intelligence (AI) creating both threats and opportunities and systemic risk a growing challenge that may ultimately need to be solved through some form of public/private partnership.
That is a snapshot of the cyber landscape offered by Philippe Cotelle, board member of the Federation of European Risk Management Associations (FERMA), chair of its Digital Committee and head of Cyber Insurance Management and head of Insurance Risk Management at Airbus Defence & Space.
Speaking to FERMA Forum Today, he said there has been a significant improvement in the maturity and effectiveness of the cybersecurity measures employed by larger organisations. He said that increased investment, improved risk awareness, and enhanced mitigation strategies have helped to bolster resilience as well as reduce the frequency and severity of cyber attack incidents and associated insurance claims.
He praised small-to-medium sized organisations (SMEs), many of which have implemented a notable enhancement in overall cyber resilience levels, reflecting a more proactive approach to…
