One Article Review
| Source |  Kovrr |
|---|---|
| Identifiant | 8577707 |
| Date de publication | 2024-09-16 12:18:12 (vue: 2024-09-16 12:18:12) |
| Titre | Lisez le 724 Risque 2024 Risque et résilience financière dans le S&P 500 Cyber Risk est une menace croissante.Le rapport de Kovrr \\\ analyse l'impact financier sur les sociétés S&P 500.Découvrez à quel point ils sont préparés. Read MoreSeptember 17, 2024Cyber Risk and Financial Resilience in the S&P 500 Cyber risk is a growing threat. Kovrr\\\'s report analyzes the financial impact on S&P 500 companies. Discover how prepared they are. |
| Texte | Executive SummaryâWhat We Want to Know and WhyWith the World Economic Forum reporting that cyber insecurity will be one of the top five market risks in the next few years, it is clear that concerns regarding cybersecurity and financial resiliency are top-of-mind across the globe. Vast amounts of capital, for instance, comprised of consumersâ pensions and savings, are invested in a relatively small number of companies, rendering such issues particularly daunting. However, by ensuring their organizations are robustly prepared for the rapid growth in cyber incidents experienced in recent years, stakeholders can not only maintain financial resiliency and shareholder value but also provide economic stability across the marketplace.To make optimal decisions regarding cyber risk management strategies, itâs vital first to have an understanding of the financial implications cyber attacks can have on the organization. Cyber risk is a relatively new phenomenon that appeared in the last few decades. Nevertheless, the expanding reliance on information technology systems within companies and across their supply chains means that the criticality of cost-effective cybersecurity management has grown massively over the past few decades. In the context of this increasingly risky interconnected digital landscape, Kovrrâs S&P 500â Cyber Financial Resiliency Report addresses the question: How financially resilient are the largest companies in the United States to cyber attacks?âHow We Answered the QuestionThis report leverages Kovrrâs cyber risk quantification (CRQ) models to determine how cyber losses stack up against company profits and overall value, using the companies in the S&P 500â as a representative dataset, reflecting the largest entities across the US. Kovrrâs on-demand models consume and subsequently enhance a companyâs available information to create a comprehensive and accurate firmographic and technological profile. This company profile is used to create a bespoke cyber event catalog as part of a Monte Carlo simulation that calculates the impact on each company and provides a detailed breakdown of incident costs. Larger attacks are modeled individually, and smaller, non-material incidents are grouped and modeled in aggregate.âThe resulting output is a table of simulated cyber events with corresponding detailed information, including attack types, methods and actors, along with detailed cost breakdowns. These assessment results provide incredible amounts of insight into the frequencies and severities of a range of cyber attacks the company is likely to experience.âTo assess the financial resilience of each company, this report compares:âProfitability Impact: We compare a large but likely scenario against the profitability of the company, as reported in the prior yearâs income statement. This analysis shows the highest annual cost of cyber events expected within a 1-in-10-year probability, which is the sort of loss that would likely be experienced within the tenure of the current CEO. We also compare a high-severity low probability annual loss estimate for each company at the 1 in 100 probability against the profitability.âLong-Term Capital Impact: To analyze the long-term resilience, we compare the 1-in-100-year probability against the available shareholders\' capital. This view highlights a more extreme annual loss against the accrued financial strength of the company, where sustained losses start to erode its long-term financial strength.âLooking at these two perspectives gives both a likely scenario the company should be willing to absorb and recover from and the rarer yet more intense catastrophe, which may have longer-term impacts and solvency implications.âThe HeadlinesâIn the S&P 500â:âOf the 473 companies with a positive Net Income, in the case of a 1-in-10-year cyber loss:some textThe median loss for a com |
| Notes | ★★ |
| Envoyé | Oui |
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