Highly destructive operational technology cyberattacks around the world could have a financial toll of almost $330 billion yearly, while resulting in business interruption costs of over $172 billion, reports Cybersecurity Dive.
Annual global risks with business interruption claims averaged $12.7 billion while global aggregated risk over the next year averaged at $31 billion, an analysis from Dragos and Marsh McLennan showed. However, mounting OT cybersecurity costs were noted to be most effectively addressed with an extensive incident response plan, defensible architecture, and continuous network monitoring, according to the report, which is based on a decade's worth of insurance claims information. "We see OT companies investing the majority of their cybersecurity budget on IT networks. The potential impact of business interruption (whether direct through adversary action or indirect to an abundance of caution) is often underestimated," said Dragos Vice President of Risk and Resilience Solutions Mark Stacey.
Annual global risks with business interruption claims averaged $12.7 billion while global aggregated risk over the next year averaged at $31 billion, an analysis from Dragos and Marsh McLennan showed. However, mounting OT cybersecurity costs were noted to be most effectively addressed with an extensive incident response plan, defensible architecture, and continuous network monitoring, according to the report, which is based on a decade's worth of insurance claims information. "We see OT companies investing the majority of their cybersecurity budget on IT networks. The potential impact of business interruption (whether direct through adversary action or indirect to an abundance of caution) is often underestimated," said Dragos Vice President of Risk and Resilience Solutions Mark Stacey.
