Cyber risk continues to grow as technology innovation increases and societal dependence on information technology expands. A new and important turning point has been reached in the struggle to manage this complex risk. In the war between cyber attackers and cyber defenders,we have reached what Winston Churchill might call “the end of the beginning.”
Three characteristics mark this new phase. First, global cyber-crime has reached such a high level of sophistication that it represents a mature, though illicit, global business sector in its own right.
Second, with near-ubiquitous technologies now connecting the digital and physical worlds to an unprecedented degree, new potential exists for individual cyber-attacks to devastate critical business and operational processes.
The third characteristic taking shape today is the rising importance of institutions-governments, regulatory authorities, law enforcement agencies, the insurance industry, and others-as a critical to counter the global cyber threat. Cyber risks can only be effectively dealt with if there is a common understanding of their importance and increased interconnected nature.
Against this backdrop, the 2018 edition of the Marsh & McLennan Companies Cyber Risk Handbook provides insights on the shifting cyber threat environment, emerging global regulatory trends, and best practices in the journey to cyber resiliency. The handbook features articles from business leaders across Marsh & McLennan Companies and our expert and notable collaborators. We hope this handbook will help you better understand what it takes to achieve cyber resiliency in the face of this significant and persistent threat.
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