In this episode of Powered, Marsh’s cyber expert Gabe DiGiamberadino, Vice President, Marsh Cyber, discusses the evolving cyber risk landscape facing energy and power companies amid the ongoing energy transition. Key challenges such as ransomware, supply chain vulnerabilities, and the increasing digitalization of operational technology are explored, highlighting how these risks uniquely impact utilities and renewables. In his conversation with our host Grace Brighter, Gabe also breaks down the complexities of cyber insurance, explaining coverage nuances, underwriting criteria, and the growing availability of tailored solutions that address industry-specific exposures like NERC CIP fines and failure to supply.
The conversation further emphasizes the importance of robust risk management practices, including benchmarking, incident response planning, and vendor risk management, to mitigate cyber threats effectively. Gabe underscores the critical role of board-level engagement and cross-functional collaboration in managing cyber risk, while also addressing how emerging technologies like AI amplify existing risks. Ultimately, the episode offers actionable insights for energy and power leaders to confidently navigate cyber risk and leverage insurance as a strategic tool in their risk management arsenal.