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June 11, 2014

Emerging Cyber Risks on the Minds of Risk Managers

Earlier this year, results were released from the seventh Emerging Risks Survey conducted by the Joint Risk Management Section, a collaboration of the Casualty Actuarial Society, Canadian Institute of Actuaries, and Society of Actuaries. In the series of annual surveys, the researchers strive to “track the thoughts of risk managers about emerging risks across time.” These trends, they explain, “are as important as absolute responses, helping risk managers contemplate individual risks, combinations of risks, and unintended consequences of actions." For instance, the researchers point out that we are at a crossroads in regard to risk management: Five years of intense management and regulatory activities around financial emergencies are giving over to other emerging risks that could span longer periods. Cyber risk is one of these emerging risks.

IT Business Edge’s Kachina Shaw asked Max Rudolph, author of the survey report, Society of Actuaries member, and founder of Rudolph Financial Consulting, about some of the survey’s results around cyber risk and risk management.

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http://www.itbusinessedge.com/interviews/emerging-cyber-risks-on-the-minds-of-risk-managers.html