Businesses face a growing insurance risk from losses due to policies not specifically designed to cover the effects of cyber attacks, known as "silent cyber" attacks. Willis Re’s silent cyber risk survey asked respondents to “assess the extent to which, over the next 12 months, the cyber aspect of exposure would increase the likelihood of a covered loss.” A survey by Willis Re found more than half of industry practitioners believe the threat from cyber attacks leading to losses will increase over the next year, with those in the IT and telecoms sector rating it more of a risk than those in fields such as construction and engineering. The report also said that while there is no evidence yet that hackers have gained access to any companies' computer systems, they are likely to be able to do so if their targets were using outdated or insecure
Businesses face a growing insurance risk from losses due to policies not specifically designed to cover the effects of cyber attacks, known as "silent cyber" attacks. A survey by Willis Re found more than half of industry practitioners believe the threat from cyber attacks leading to losses will increase over the next year, with those in the IT and telecoms sector rating it more of a risk than those in fields such as construction and engineering. The report also said that while there is no evidence yet that hackers have gained access to any companies' computer systems, they are likely to be able to do so if their targets were using outdated or insecure