Cybercrime is becoming so widespread that in May 2012 the Irish Government moved to establish a computer emergency response unit in order to protect state assets and infrastructure.
Insurance companies are alive to this threat to business. Last month, one of our clients, QBE Insurance, hosted a successful business briefing at the Dublin Chamber of Commerce on the subject of cyber threats.
Issues raised by attendees at the briefing demonstrated a growing awareness that the threat of litigation, and ensuing damage to corporate reputation, resulting from a cyber breach, are no longer being ignored.
In a recent article on cyberliability in The Broker magazine, QBE reported that more than 440 Irish companies were the victims of cybercrime in 2011. The reality is that there were probably many more companies affected as no business manager wants to admit their customers’ data is not secure.
As one quarter of Europeans believe the risk of cybercrime is increasing, and given the rise of cyber crime in recent years, the Commission has designed a coordinated policy in close cooperation with EU States and the other EU institutions to address the issue. These policies, if implement, will place a new onus on commercial organisations to protect their customers’ and clients’ data.
Tags: Public Relations