There continues to be considerable discussion around Cyber Risk threats and the exposure(s) that businesses face, and it is difficult to separate the real and growing risk from the hype. A recent article summarizes a survey of computer security professionals (see here), and a majority believes there will be a major cyber terrorism event within the next year. Targets could include the power grid, the financial industry, the oil and gas industry, and other utilities.
Of course, there might be a bit of bias among the participants in the survey. While the risk is real and the prediction of a major event (undefined) is likely to occur at some point, small and medium-size businesses should be more concerned with protecting their own systems and data. In addition to outside threats (hackers), employee negligence and intentional damage continue to be critical exposures. Businesses must continue to utilize a range of protections, including buying cyber risk insurance.