Zurich boosts cyber defence in Australia with new leadership
Zurich boosts cyber defence in Australia with new leadership | Insurance Business Australia
Cyber
Zurich boosts cyber defence in Australia with new leadership
Expert to lead newly established group
Cyber
By
Roxanne Libatique
Zurich Resilience Solutions (ZRS) has named Dan Elliott as its new head of cyber resilience in Australia.
Elliott (pictured) will head a newly established team focused on offering cyber risk advisory services to businesses as the frequency and complexity of cyber threats continue to rise.
Zurich Resilience Solutions new cyber risk advisory services
ZRS, part of Zurich Insurance Group, provides risk management support that extends beyond insurance, assisting organisations in managing challenges related to cyber risk, climate resilience, and supply chain disruptions.
With the creation of this new cyber resilience function, ZRS aims to enhance its offerings to Australian businesses facing growing cyber risks.
Zurich Resilience Solutions head of cyber resilience in Australia
Elliott previously served as principal for cybersecurity risk advisory at ZRS in Canada. He has a diverse background in cybersecurity, intelligence, and risk management, including a role as an intelligence officer with the Canadian Security Intelligence Service (CSIS).
“I am delighted to lead and continue bolstering the ZRS cyber resilience unit in Australia,” he said, adding that it is crucial for businesses to have the knowledge and tools needed to strengthen their resilience.
Urgent need for enhance cyber resilience
The announcement comes alongside the release of Zurich’s latest report, “Closing the Cyber Risk Protection Gap,” which highlighted the urgent need for enhanced cyber resilience to protect the global economy.
The report recommended collaboration between the private and public sectors and outlined strategies to manage both measurable and unquantifiable cyber risks, particularly through public-private partnerships and alternative incentives instead of additional regulation.
It also highlighted the growing financial impact of cyber incidents, with the global cost of cybercrime projected to rise from US$8.5 trillion in 2022 to US$24 trillion by 2027.
Cybersecurity concerns
Increased digital reliance has amplified concerns around cybersecurity.
The “Global Risks Report 2024,” published by the World Economic Forum in collaboration with Zurich, ranked cyberattacks among the top five risks facing the world today.
Nearly 40% of surveyed experts cited cyberattacks as a key threat with the potential to cause major disruptions in the near future.
Cybersecurity gaps in Australia and New Zealand
Further evidence of the challenges posed by cyber threats in the region was provided in a report from New Zealand-based email security firm SMX.
While DMARC adoption is increasing, particularly among Australian government agencies, gaps persist. The SMX report found that 92% of Australian federal agencies have implemented DMARC, with 79% enforcing it.
The SMX report also examined DMARC adoption in the private sector. In Australia, 60% of ASX-listed companies have adopted DMARC, with enforcement levels rising from 45% in 2022 to 47% in 2024.
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