For defence and prevention, cybersecurity in the time of Covid has involved contracts with software companies and considerations in planning. For mitigation and eliminating risk, this has come back to the insurance industry.

Insurers have changed their policies to encompass cyber threats, but now BRIT Insurance is offering an individual cyber-insurance policy. James Bright, senior underwriter for war and terrorism at BRIT Insurance said: “Oil and gas companies deal with massive assets, both above and below the sea, and above and below ground.

“Obviously it’s also an extensive use of manpower across their asset base, and all of the infrastructure is heavily automated. When something goes wrong, it can go wrong extremely quickly and cause catastrophic loss. So risk management procedures need to be rigorous, and education of employees in work practices should be at the top of the agenda.”

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Source: Offshore-technology.com