This has also created a new set of potential security and business continuity vulnerabilities. Over the last four years, cyber threats have been ranked as the top risk facing UK businesses by the Allianz Risk Barometer.
Any company holding data, or reliant on digital services, can be affected by cyber criminals, even if they aren’t targeted directly. Loss of data can happen all too easily – causing wide-reaching and highly damaging consequences.
Physical risks are also relevant in ensuring a robust cyber infrastructure. Power surges, fire, water and impacts can all cause damage and create difficulties for the organisation. Additionally, theft can be a problem. Not only the cost to replace equipment, but also losing work in progress, not to mention the legal, financial and reputational implications if sensitive information falls into the wrong hands.