Cyber risk and, particularly, the risk from ransomware appears on everyone’s top risks list these days, including ours. The threat from a ransomware attack has rapidly increased over the past nine months, as many organizations continue to “work from home” which can come with more relaxed cybersecurity practices. As we go further into 2021, cybercriminals will continue to become more sophisticated, forcing these organizations to waste resources reacting to a ransomware attack.
This year has been filled with a multitude of both challenges and victories. Every year is different but in 2020 we have had to deal with more change than normal. The business world is evolving quickly, and risk management has been changing along with it. In 2021, a resilient and resourceful approach to risk management will be front and center as businesses navigate the “work from home” landscape, deal with the effects of the pandemic, and change the insurance market for years to come.