Academy Workshop - Managing Cyber Risk in Industrial Environments

Cyber security is widely recognised as a critical risk for organisations across all sectors, and most senior leaders no longer need convincing of its importance. However, industrial cyber risk receives far less attention, despite its potential to materially affect organisational finances, operations, and resilience.

The session will explore how to frame cyber risk in industrial and operational environments. It will equip attendees with tools and techniques to drive industrial cyber risk improvement, ultimately strengthening their organisation’s security posture and resilience.

The session will cover three themes:

1. Geopolitics: How have recent geopolitical events impacted the cyber threat landscape, including state-sponsored activity, supply chain exposure, and the broader implications for globally operating industrial organisations?
2. Case studies: How do recent large-scale, high-profile incidents show that cyber events in complex, physical environments can rapidly evolve into operational disruption, financial loss, and reputational damage?
3. Next steps: What can insurance and risk managers do now to reduce their organisation’s industrial cyber risk? How can they work with stakeholders such as CISOs and operational engineers to drive meaningful risk reduction?

The session is intended to be practical, accessible, and grounded in real-world experience, attendees will leave with tools and talking points they can leverage in their own organisations.

By the end of the session, you will be able to:

• Identify the key characteristics that distinguish industrial cyber risk from traditional IT cyber risk
• Cite recent industrial or operational cyber incidents and state their operational and financial impacts
• Describe practical actions risk managers can take to improve cyber resilience in industrial environments

Speaker:

Caroline Faulder, Cyber Security Consultant, FM