Internet Threats Affect Us All

Internet Threats Affect Us All

August 22, 2018 Business Insurance and Risk Management, The Beacon Blog 0 Comments

In a recent AP interview published online at https://apnews.com, the FBI special agent in charge of the New Orleans office described threats cybercriminals pose in his area. The focus was on Louisiana and the Mississippi River, but the same or similar threats exist in Philadelphia, New York, Los Angeles and other major metropolitan areas and waterways.

Here is a summary of the  threats:

  • Traffic: Vessels and their passengers or crews with intent to do harm, possibly affecting the entire United States economy.
  • Infrastructure security systems: Pipelines, refineries and ports could be subject to cyber attack; disruption could affect national and international commerce.
  • Theft of money or critical information, possibly by state sponsored actors. According to the FBI, cyber crime cost $2.9 billion between October 2013 and May 2018.
  • Terror attacks on computer and safety systems.
  • Attacks on public utilities including flood control and drinking water.

To counter these threats, businesses need disaster mitigation and recovery plans. The FBI has 20 people in Louisiana alone working on cybersecurity, and partners with other federal agencies and the private sector. They have a website for their Internet Crime Complaint Center, a source of information and a place to report cybercrime.




About the Author

Harry Cylinder

Harry Cylinder, CPCU, ARM has spent nearly fifty years in the insurance industry, the majority of the time as a consultant. He has been employed by The Beacon Group of Companies since 2008, specializing in the review and analysis of property and casualty coverage forms. Mr. Cylinder has been reviewing policy forms as they have evolved over the past decades. In 2008 he published an article in the CPCU Journal which was the first description of cyber insurance coverage for a general insurance audience. Since that time he has regularly written on cyber and other topics for The Beacon Companies’ blog.