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Report highlights concentration of risk… Aviation industry at risk from cyber attack… Insurers among most targeted by cyber attackers…

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Report highlights concentration of risk
For businesses operating overseas or those who rely on foreign suppliers the risks from natural disasters are well documented but a new report highlights that much of the risk is concentrated in just four countries. The Verisk Maplecroft Natural Hazards Risk Atlas shows that the Philippines, China, Japan and Bangladesh have more than half of the 100 cities deemed most at risk by the report. The research focuses on more than 1000 cities identified as the most important economic and population centers in the coming decade. Twenty-one high risk cities are in the Philippines, 16 are in China, 11 in Japan and 8 in Bangladesh with wildfires, cyclones, tsunamis and flooding among the highest risks. Many international firms have high exposure to these countries, because staff are located there or an essential part of their supply chain is based there. Read the full story.
 
Aviation industry at risk from cyber attack
The aviation industry is at a particularly strong risk from cyber attacks according to Willis. Peter Armstrong, the firm’s head of cyber strategy, says that because of its reliance on digital technology and the sophisticated supply chain structure that uses that technology the aviation sector is exposed. Speaking at a conference in Hong Kong he warned that more needs to be done by the industry and that it needs to be a priority for those at the top of companies: “This is a Board Room issue representing a sophisticated challenge to sophisticated organisations.” Armstrong says that there is also a huge part to play for the insurance industry in working with aviation businesses to understand and mitigate their vulnerabilities.
 
Insurers among most targeted by cyber attackers
The latest edition of the Symantec Intelligence Report reveals that the insurance sector is one of the most targeted by cyber attackers. The security firm’s January data shows that phishing emails increased to 42 per day at the start of the year compared to 33 per day in December. Along with insurers, real estate and financial businesses were the top targets with 29 per cent of all phishing emails being sent to one of the three sectors. Across all sectors, 1 in 1004 emails sent in January was a phishing scam designed to steal data or access secure networks and organizations with 1-250 employees and those with 2500+ were most targeted. Names, addresses and government IDs, such as social security numbers, were most often stolen. Read the full report.
 

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