ANZIIF urges insurers to bolster cybersecurity amid Paris Olympics concerns

ANZIIF urges insurers to bolster cybersecurity amid Paris Olympics concerns | Insurance Business Australia

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ANZIIF urges insurers to bolster cybersecurity amid Paris Olympics concerns

Officials note the 2021 event saw an estimated 450 million cyberattacks

Insurance News

By
Jonalyn Cueto

The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) is encouraging insurers to take proactive measures to safeguard their clients against potential cyber threats as the Paris Olympics approach.

With the Paris Summer Olympics on the horizon, organizers are preparing for possible cyberattacks. This anticipation follows recent incidents where hackers disrupted the websites of a film festival and museum in Paris. These events have heightened concerns about the potential for similar disruptions during the games.

The issue of cybersecurity extends beyond the Olympics. As technology advances, the importance of cyber safety becomes increasingly critical. ANZIIF has underscored the need for robust protective measures against digital threats.

The Olympic Games have long been a target for cyberattacks by organized crime groups and state and non-state actors due to their global and high-profile nature. In 2021, the Tokyo Olympics endured an estimated 450 million cyberattacks, according to technology giant Cisco. According to a report from the World Economic Forum, the company, an official partner for Paris 2024, anticipates eight times more attacks on the Paris Games.

Preparing for potential cyberattacks

Experts note that the vast amount of commerce and consumer data involved in the Olympics makes it a prime target for cybercriminals. “Motivated by financial gain, cybercriminals are redoubling their efforts and will not hesitate to create websites that spoof everyday services,” the Paris 2024 official website states.

“Cybersecurity is and should be on the minds of every business. Between 2021 and 2023, data breaches rose by 72%, surpassing the previous record. These statistics highlight the importance of having the right protections in place,” said ANZIIF CEO Katrina Shanks.

ANZIIF offers a range of courses designed to keep insurance professionals updated on the latest cybersecurity best practices. These courses include:

LA30007-20: Business interruption loss adjusting
LA30010-20: Theft, money, and fidelity loss adjustment
GE20002-20: Understanding general insurance products and policies
GE10001-22: Customer advice on insurance products

The institute provides online, interactive short courses called Skills Units, as well as distance learning modules. ANZIIF’s education model emphasizes active learning, enabling professionals to apply their knowledge in practice to improve daily work and enhance business performance.

Skills Units are fully online and can typically be completed in five to seven weeks.

For those pursuing qualifications, ANZIIF Skills Units are aligned with the Australian Quality Training Framework (AQTF), allowing professionals to attain certificates or diplomas.

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