The world's leading mining companies now unanimously report that cyber threats are among the principal risks facing their organizations. The report from Guy Carpenter sister company Marsh, Cyber Risk: Threats and Insurance Protection for the Mining Sector, highlights how networked systems are now in use across all aspects of mining operations, and how a range of cyber-attacks on the sector - and industry at large - have raised concerns about the cyber threat.
The report highlights specific cyber risks for mining companies, the potential impacts of those threats on operations, and how a greater understanding of those risks now is reflected in a growing suite of cyber insurance solutions.
Topics covered in the report include:
- Key risks to the mining sector, such as risks to safety and production critical controls; fraud, extortion, and disruption to supplies of critical consumables and utilities; loss of financial data integrity; and loss of exploration data, mining rights and title, and resource definition.
- The industry's use of remote access and control systems, such as supervisory control and data access systems and other remote telemetry devices.
- The insurance market's response to these threats and the steps involved in designing a suitable cyber insurance program.