The Road to Resilience 2016: Managing Cyber Risks

The Road to Resilience 2016: Managing Cyber Risks is the third risk dimension investigated as part of the Financing Resilient Energy Infrastructure initiative. Prepared by Marsh & McLennan Companies, Swiss Re Corporate Solutions, and the World Energy Council, the report investigates how cyber risks can best be managed, taking into account the changing nature of the energy industry and energy infrastructure.

Drawing on insights from a network of energy industry experts, the report assesses how vulnerabilities in current and new energy infrastructures are changing. The report recommends actions that energy decision makers and stakeholders can take – individually and collaboratively – to improve the sector’s preparedness for rising cyber threats, as part of a wider move toward resilience.

The report also covers:

• What exactly constitutes a cyber risk.
• Why the energy industry is increasingly exposed to cyber risks and how the exposures are affecting the sector.
• The potential cost of massive cyber-attacks.
• How cyber risks can cross over to create physical risks and cause property damage.
• How government and industry are combatting the threat.

It also contains a glossary of cyber risk terms and a table of potential cyber-incidents and insurance claims.