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Cyber Risks Extend Beyond Data and Privacy Exposures

Cyber Risks Extend Beyond Data and Privacy Exposures
Source: Marsh

Although data privacy issues may be top of mind for many organizations in managing cyber risks, they may be overlooking a potentially more severe threat: the impact of technology failures on supply chains and general operations. Technology outages and software failures resulting in supply chain and operational disruptions can cause significant loss of income, increase operating expenses, and damage an organization’s reputation.

According to “Cyber Risks Extend Beyond Data and Privacy Exposures”:

  • Unplanned information technology (IT) or telecom outages are the most debilitating source of supply chain disruption, outpacing adverse weather, earthquakes, product contamination, and transportation disruptions.
  • Although cyber insurance policies have historically been triggered primarily by data breaches and hacking attacks, many now provide coverage for a broad range of technology failures and outages.
  • The purchase of cyber insurance should be just one part of a well-planned and effective risk management program that also includes policies and protocols to prevent and mitigate technology risks.

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"Balance for Oil, Imbalance for LNG?" (recorded webcast) Center for Strategic & International Studies

https://www.csis.org/events/balance-oil-imbalance-lng

"The CSIS Energy and National Security Program is pleased to host Fereidun Fesharaki, Founder and Chairman of FGE, for a presentation and discussion on the current state of global oil and gas markets, one balancing as the other appears to tip toward imbalance.

Oil markets are struggling to reach a balance, and with robust demand growth and continued OPEC cutbacks, a balance might be reached in the 2017/2018 period. LNG markets are facing a prolonged period of imbalance, perhaps through about 2023, before a balance can be reached. While many advocate new U.S. LNG projects, around 50% of the projects currently under construction have still not been sold to end users.

Dr. Fesharaki's work is recognized worldwide for pioneering oil and gas market analysis since the early 1980s. Born in Iran, he received his Ph.D. in economics from the University of Surrey in England. He then completed a visiting fellowship at Harvard University’s Center for Middle Eastern Studies. He joined the East West Center in 1979, where he led the Energy program for two decades. FGE offices are spread around the world in 8 locations with heavy emphasis on Asia and the Middle East.
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