The year 2020 shattered all records for data breaches and the massive number of cyber-attacks on businesses, governments, and individuals. Furthermore, the complexity of threats and trends has escalated due to developing technologies and increased strategic coordination among cybercriminals and state actors.
Cyber risk normally describes a business’ comprehensive cybersecurity posture. It focuses on determining the risk factors of the business, given the steps it has undertaken to secure itself. At the outset, cyber risk helps in realizing the threats that companies face day in and day out.