SUSTAINABILITY
costs and counselling / rehabilitation costs . It is even possible to extend cover to , for example , tiger kidnappings ( when one person is kidnapped in order to exert pressure on another to perform a criminal act ) as well as business interruption losses and product recall expenses arising as a result of cyber or product extortion in particular .”
Beyond cover , such an extensive policy can also cover such things as access to – and payment of the costs of – independent crisis management and response advisers and even specialist negotiators that are trained in such incidents . Holland says : “ Insurers usually offer access to a global team of security advisers with the policy including , in some cases , pre-incident support and risk management comprising , amongst other things , cyber and security risk assessment and crisis management planning .”
The increased use of advanced technology in mining operations has seen insurers place considerable emphasis on risks associated with cybersecurity of late . This is particularly prudent in light of increased use of network systems , particularly in remote operations , and also systems used to monitor technology , handling operations and processing facilities . A recent study by software organisation Symantec , for example , identified mining companies as the most at risk for cyber ‘ spear phishing ’ attacks . To give a practical example , in 2012 oil company Aramco was hacked by political activists with a relatively simple spear phishing attack that resulted in more than a week of network downtime at significant cost .
78 June 2018