Weak Cyber Defences for Energy Firms

Insurers are becoming increasingly worried about the risks posed by cyber-attacks.

It has been reported that power companies are being refused insurance cover for cyber-attacks because their defences are apparently 'too weak'.

Within this particular market, businesses can insure things such as container ships, oil tanks and large development projects, to secure cash to help them recover from disasters such as cyber-attacks.

Laila Khudari, underwriter at the Kiln Syndicate said: "In the last year or so we have seen a huge increase in demand from energy and utility companies.

"I think what's behind it is the increase in threats and the fact that a lot of these systems were never previously connected to the outside world."

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