Risk Spotlight: One reinvented workplace, many new threats

Flexible working models have changed the risk landscape significantly, creating new threats for both companies and individuals and considerably altering organisational risk profiles.

While the pandemic accelerated the change towards hybrid ways of working – bringing both greater flexibility and new opportunities – it also opened the door to new and more sophisticated cyber threats.

In the latest episode of Risk SpotlightImagining the future of work – we look at how homeworking has facilitated new ports of entry for cyber criminals, forcing companies to enhance the security of their technology infrastructure and rethink other risk mitigation strategies and insurance coverage.

While larger and more resourceful companies have been able to deploy strategies to protect themselves against these new threats, smaller and more agile players have been able to use their nimbleness to circumvent problems.

However, it’s those companies in between these two groups that have been the slowest to respond and thus fall victim to these new attacks, our panel of industry experts explained.

In the latest Risk Spotlight, WTW’s Global Head of Risk and Broking Adam Garrard and Global Head of Health, Wealth & Career Julie Gebauer; and Liberty Specialty Markets’ Head of Liability Lines Stuart Sutherland and Chief Cyber Officer Jonathan Rigby explore the new risk landscape posed by changing work models and how this will ultimately impact a business’s organisational risk profile.

During the 10-minute docuseries episode, we cover:

  • Why the industry needs to turn its attention to organisational risk in light of changing work models
  • What emerging risks in this space look like, including: reputation, societal, mental and physical well-being risks
  • Why cyber attacks are on the rise and who, in an organisation, are the biggest risk
  • Evolving coverage in liability lines to ensure current products remain fit for purpose
  • Why this topic is aligned with ESG principles