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We’ve always known that the automotive industry rightly has a love affair with on-line. We spend a significant part of our lines in cars and to ensure that we remain connected to the outside world, share some of our most personal and security information.
Is the automotive industry proving a little less secure than many had hoped, both enabling the sharing of our personal data and providing access to sensitive functionality. Automotive manufacturers are moving towards a pay per click model and rely heavily on the cloud. Cloud that we know is less than secure if not configured correctly, or the shared responsibility model well understood.
One recently read an assessment of the impact on U.S auto insurers and car dealers if cars were compromised through cyber. If only 10% of cars were bricked due to a cyber attack the total exposure to insurers and reinsurers was higher than 40% of the total capital dedicated to the global reinsurance market. However likely that is to happen, we know that cyber is a significant issue for digital tech and cybersecurity has not been front and center for many. As the enclosed article demonstrates, government agencies are acquiring the technology to access automotive data. What stops hackers doing the same?
Ted Dziekanowski Gerry Kennedy
#cybersecurity #cyberinsurance #cyberriskmanagement #reinsurance #automotivecybersecurity #theaugustagroup
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