Cyber risks: Canada has reached a tipping point, Aon says

By Hubert Roy | February 18 2019 11:30AM

The digital shift has ushered in new growth opportunities for firms, but also risks.

Brian Rosenbaum, National Cyber Leader at Aon in Canada, thinks that Canada has reached a tipping point in organizational cyber risk. “Most organizations finally realize they have some degree of exposure and know they must do something about it,” he says.

For much of the last decade, many Canadian organizations were either ignorant or in denial about their cyber risks, Rosenbaum adds. “So we have no doubt seen progress. That said, many still have a way to go before they reach a level of cyber maturity to properly deal with that exposure and that is now the new challenge,” he explains.

Needs will intensify

Rosenbaum shared these views in conjunction with the release of Aon’s 2019 cyber security risk report called What’s Now and What’s Next.

“In 2018 we witnessed that a proactive approach to cyber preparation and planning paid off for the companies that invested in it, and in 2019, we anticipate the need for advanced planning will only further accelerate, says J. Hogg, CEO of Cyber Solutions at Aon.

A real Wild West

Although concerns about cyberattacks are mounting, the means to resist them effectively remain limited. Some have even likened the current technological environment to the Wild West. Insurance Journal recently interviewed North American experts in the field for a special report. Consult the January-February 2019 issue of the magazine to learn more.

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