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Instant Insights / October is National Cybersecurity Awareness Month

The COVID-19 pandemic has revealed new cyber threats. Now's the time for insurance professionals and insureds to reexamine cybersecurity strategies and coverage.

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Emerging cyber threats There are several growing risks that will require careful navigation including ransomware and voice programs that try to steal personal information. (Photo: Shutterstock)

As an information security professional in the world of insurance, the emergence of cyber threats and how we prevent and mitigate these risks are somethings I think about often (as do my colleagues and peers). Many believe that 2020 may prove to be a tipping point for both the critical nature of cyber risks and the new ways we think about mitigating them. I tend to agree.

Many of these risks have been emerging in the years leading up to 2020, but with 5G well on its way, they’ll be taking on new urgency and scale. At the simplest level, the speed and connectivity of 5G networks mean more information flowing through devices — providing more opportunities for malicious actors to access and compromise it.

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