Home / VIDEOS / Video: Amy Barnes, managing director, Energy & Power Practice, Marsh, on energy industry risks and business interruptions


Video: Amy Barnes, managing director, Energy & Power Practice, Marsh, on energy industry risks and business interruptions

by Martin Menachery on Mar 30, 2018


Amy Barnes, managing director, Energy & Power Practice, Marsh.
Amy Barnes, managing director, Energy & Power Practice, Marsh.

According to Marsh, energy executives are increasingly concerned about the impact of cyber-attacks on their operations.

Over three-quarters (76%) of respondents to a Marsh survey cited business interruption (BI) as the most concerning consequence of a cyber-attack for the energy industry. Marsh’s report – Could Energy Industry Dynamics Be Creating an Impending Cyber Storm? – was released at Marsh’s bi-annual Energy Industry Conference in Dubai during 6-8 March 2018.

The report, which draws on the findings from the Marsh-Microsoft Global Cyber Risk Perception Survey, looks at the most concerning cyber loss scenarios for energy executives, the industry’s understanding of cyber exposures, and how organisations plan to manage these risks in the future.

Key findings of the report include: (i) 76% of energy executives cited BI as the most impactful cyber loss scenario for their organisation, highlighting not only the growing threat cyber risk presents for the energy industry, but also the heightened risk any BI event could have on production and revenues. (ii) Despite more than half of energy executives naming cyber as a top-five risk, 54% of energy executives have not quantified, or did not know what their worst possible loss exposures could be. (iii) Twenty six percent of energy executives surveyed said they were aware that their company had been victim to a successful cyber-attack in the past 12 months. (iv) The energy industry plans to invest more in cyber risk management, with 77% of energy executives surveyed saying their organisations will increase levels of investment in cyber risk management, while 26% plan to purchase, or increase their cyber insurance.

Check out the following video to know the views of Amy Barnes, managing director, Energy & Power Practice, Marsh, on the risks involved in energy industry and the resulting business interruptions.

 


FEATURED COMMENT

Please click here to comment on this article

COMMENTS

Name *
Email *
City
Country
Subject: *
Comments: *


  • LATEST VIDEOS

NEWSLETTER SUBSCRIPTION
Email:
ArabianOilandGas Awards
LinkedIn
Utilities middle east
Construction Week Online Middle East
Hotelier Middle East
Arabian Supply Chain Middle East

RELATED ARTICLES


NEWSLETTER SUBSCRIPTION
Email:
Articles
Companies