Attractive to Cybercriminals
The energy industry is critical to modern economies, making oil and gas companies attractive targets for cybercriminals. Further, the oil and gas sector may be leveraged during geopolitical conflict by attackers motivated by political, economic, or strategic interests.
Operational Disruptions
Increased reliance on technology leaves oil and gas companies vulnerable to operational disruptions that not only cause significant revenue losses but have the potential to tarnish reputation.
Aging Infrastructure
Updates to equipment can be costly and time consuming. Legacy systems pose significant cybersecurity risk as software updates and patches have become more essential. Without the appropriate investment in updated infrastructure, systems are increasingly susceptible to exploits and attacks.
Guidance and Standards
The publicity and awareness surrounding recent cyber-attacks penetrating oil and gas companies have brought increased scrutiny to the industry. To help protect the industry from these events, enhanced guidance may develop around critical infrastructure.
How our policy supports clients for the duration of the claim
For more on suggestions to reduce risk and our appetite for Oil & Gas firms, download the PDF.