Digital community engagement for Australian enterprise

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The dynamics of cybersecurity are becoming similar to the dynamics of the military.

A recent article published Israel Defence shows how cyber defence is adopting processes and practices similar to the dynamics of military command. We are seeing growing enthusiasm for this more proactive approach among Australian organisations too.

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Cyber insurance companies are now taking a clear eyed view of the real risks

Lloyd’s of London approximates that average cloud service [Cyber] events of varying severity range from $4.6 billion in total damages for a “large” attack to $53.1 billion for an “extreme” one. In the vulnerability example, the average costs range from $9.7 billion for a large event to $28.7 billion for an extreme one. Lloyd’s notes that much of the damages would not be covered by insurance. Only around 15 percent of damages would be covered in the cloud example and 7 percent in the vulnerability example.