A recent ransomware attack on the Colonial Pipeline left much of the Eastern U.S. in fear of serious fuel shortages. This attack highlights inconsistencies and weakness within the U.S. IoT cyber security capabilities.
Cyber security risk has become a prominent threat for companies and businesses alike. Many fear that a cyber attack could result in loss of information or data. But a recent cyber security breach at a water treatment facility in Florida has made it clear that no entity is safe.
Claims professionals are no stranger to catastrophe and disruption. It’s imperative that the claims process continues to expand its risk strategies in spite of hurdles, starting with fostering relationships and utilizing technology.
If 2020 has taught us anything, it is that risk does not discriminate, it does not care about economic status, race, gender, or nationality. To face the new level of complex risks and uncertainties facing our global markets, more innovative and resilient risk management models are needed in 2021 and beyond.
In the second part of its conference, Temple University’s Enterprise Risk Management Conference shared more on ERM’s importance and how risk management has been effectively used to combat the COVID-19 pandemic.
The year 2020 brought unexpected and grueling risk across several different sectors. We take a look at the most prominent risks faced this year and the lessons learned from them as 2021 quickly approaches.