AIG report explores the human factor in relation to cyber risks

AIG Human Risk Cyber Report

Authored by AIG

Essays and articles about cyber risk often refer to human error as a major driver of cyber incidents and the financial losses arising from them – up to 95% of all breaches. But what is human error and how are human traits and behaviours exploited by malevolent actors?

By better understanding these vulnerabilities, more can be done to address them and build greater cyber resilience.

This paper explores the human factor in relation to cyber vulnerabilities, considering a range of scenarios in which end users and infrastructure are exploited by hackers and fraudsters. It considers the different types of human vulnerability and how it might be reduced through better awareness and training and a more robust IT infrastructure.

Against a backdrop of global pandemic, we also consider the additional exposures businesses face when their staff are working remotely. In times of crisis, employees may be forced to fall back on dated, unpatched devices and software and are potentially more vulnerable to scams that prey on their natural fears.

Rather than blaming employees for making mistakes, the report argues it is time to take a new approach to addressing the human side of cyber risk, by identifying and addressing the underlying root cause: human behaviour. It is an approach which recognises all the nuances of what is primarily a sentient threat with recommendations and solutions, but without stigmatising the user as the culprit.

We replace the term ‘human error’ with ‘human factor’ in an attempt to move away from negative connotations while also offering more scope for organisations to identify opportunities in addition to threats.

Organisations are investing heavily in protecting their IT systems with security controls and other infrastructure with spending set to surpass $42 billion in 2020. But is the corporate world investing as much as it needs to in ensuring that its people are the first line of defence when it comes to protecting their data and systems?

To download the Human Cyber Risk report from AIG CLICK HERE


Latest video

AIG video: Winning Energy with AIG – Claims help when it matters most

Watch John Kelly - VP, Property & Energy, Major Loss Claims talking about how AIG’s Claims capabilities can help insurance brokers win and retain business.... click here for more