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Lloyds highlights 2011’s emerging risks

Lloyds has published an article which highlights major increasing threat areas which organizations need to be aware of.

According to Lloyds, space weather, new cyber risks and failing critical infrastructure will be increasing areas of concern.

Key points:

- The phenomenon of space weather is one of the most difficult to quantify and yet is a potentially serious source of loss and disruption. Turbulent space weather created by solar phenomena such as coronal mass ejections, solar radiation and magnetic storms could have wide ranging impacts. Aircraft communication and navigational systems might stop working, satellite and GPS systems could malfunction, power grids could collapse. The impact of space weather on wi-fi technology is not yet fully known, but it could have potentially very severe impacts on wireless networks.

- Another important technology related exposure tipped to continue to grow strongly in 2011 is cyber risk. Companies are increasingly vulnerable to system failures, data losses and cyber attacks, creating serious operational, financial, intellectual property, legal, regulatory and reputational risks.

- Increasing strain is being placed on critical infrastructure across the globe. Underinvestment by governments around the world in agriculture, energy, water, transport, and information technology infrastructure is storing up problems.

Read the article.

•Date: 11th Jan 2011 • Region: UK / World •Type: Article •Topic: Op.risk

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