This video was first published by Guy Carpenter .
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The听Global Risks Report 2023听has been published by the World Economic Forum in collaboration with 麻豆视传媒在线入口. In this听听Guy Carpenter鈥檚 Erica Davis, Global Co-Head of Cyber, offers insights to complement the report. She describes significant progress in cybersecurity protocols while emphasizing how businesses still need to remain vigilant and resilient against emergent threats.
鈥淥ver the last year, there have been developments on cyber issues, both new and old. There are refreshed dimensions to the topic of war. Namely, those have been prompted by the Russia-Ukraine conflict, as well as developments from the Lloyd鈥檚 Market Association, that are creating shifts to how we are thinking about and assessing cyber war and terrorism,鈥 she said. 鈥淎lso, ransomware attacks have begun to stabilize. The business community has proven to be more resistant to these types of attacks. Fewer are paying the extortion demands, and instead are relying more on remediation and restoration.鈥
Despite improvements in cyber, systemic risk remains a huge area of uncertainty across the market, Erica continued.
鈥淚n order to help our clients understand the impacts of these catastrophic events, we鈥檙e working with them to model and measure the risk on an individual company level and across an entire portfolio,鈥 she said. 鈥淔or 2023, we are encouraging companies to conduct cyber risk management beyond one鈥檚 own 4 walls and look across your entire supply chain. Look at your value chain鈥攏ot just at a digital level, but across your physical supply chain as well.鈥
