Cybersecurity is strongest at larger financial institutions and those with good cyber communication

With cyber risk on the rise, Lesley Ritter of the Cyber Risk team and Megan Fox, Michael Dion and Rokhaya Cisse of the Financial Institutions team discuss our survey and findings on banks’, insurers’ and asset managers’ preparedness for a cyberattack. Related content:Cyber Risk – Global: 2021 Outlook – Cyber vulnerabilities in software supply chains, rising cost of ransomware will be key risksCross-Sector – Global: Credit implications of cyber risk will hinge on business disruptions, reputational effectsCyber Risk – Global: Sunburst attack on public and private entities raises credit risks as extent of breach unfoldsBanks – North America: Cybersecurity strength rests on governance and preventionInsurers, Insurance Brokers and Asset Managers - Global: Survey signals cybersecurity strength, with some differences across sectors, regions.Insurance – US: Surge in ransomware claims drives cyber insurance prices higherP&C Insurance — Global: Battling hidden cyber exposures, insurers position for growing opportunity