Cyber is one of the most dynamic risks out there. It’s constantly evolving thanks to the digitization and globalization of business, and the reliance of humans on technology to carry out routine tasks. There’s greater connectivity than ever before due to the rapid development of the Internet of Things and the human desire for real-time service, whether that’s internet shopping at the click of a button or controlling your office thermostat from your smartphone so that it’s the perfect temperature for when you arrive at work.
There’s a whole hoard of emerging cyber risks impacting companies in the US and around the world, some of which are people-driven and others that are more dynamic in nature. Common people-driven exposures include: social engineering, where a cybercriminal impersonates another individual to trick someone into transferring money to the wrong account; and physical damage, such as intellectual property destruction and crypto jacking.
The more dynamic risks revolve around company…
