Risk Management is a discipline that deals with uncertainty and, simply put, involves the process of identifying, assessing, and controlling the impact of risks that form part of the life of a business.
This much is obvious to everyone involved in risk management whether your role involves managing risks of your own company, assuming risks as a professional risk taker or safeguarding the financial system or the general community at large as a regulator. The challenge to successful risk management is the differing nature of risks and industrial cyber risk presents a significant challenge.
This blog is an introduction to a series of commentaries regarding the management of industrial cyber risk with emphasis on the transfer of it via insurance and alternative capital mechanisms. It is seeking to, amongst other things: