2018: Companies Will Make Major Enterprise-Wide Changes to Address Cyber Risk
As cyber attacks increasingly threaten every aspect of business and grow in volume and scale, companies will be forced to take new measures to address cybersecurity risk holistically, integrating it more aggressively into their enterprise risk management, according to Aon's Cyber Solutions industry specialists in the 2018 Cybersecurity Predictions report. The report outlines a number of specific actions that Aon believes companies will take in 2018 to address cyber threats, as well as other cyber trends that it anticipates in the New Year.
"In 2017, cyber attackers created havoc through a range of levers, from phishing attacks that influenced political campaigns to ransomware cryptoworms that infiltrated operating systems on a global scale. With the growth of the Internet of Things (IoT), we have also witnessed a proliferation of distributed denial-of-service (DDoS) attacks on IoT devices, crippling the device's functionality," said Jason J. Hogg, CEO, Aon Cyber Solutions. "In 2018, we anticipate heightened cyber exposure due to a convergence of three trends: first, companies' increasing reliance on technology; second, regulators' intensified focus on protecting consumer data; and third, the rising value of non-physical assets. Heightened exposure will require an integrated cybersecurity approach to both business culture and risk management frameworks. Leaders must adopt a coordinated, C-suite driven approach to cyber risk management, enabling them to better assess and mitigate risk across all enterprise functions."