The Internet continues to be a driving source of connectivity, permeating all facets of society, and although we can benefit from it in so many ways, there is no denying the risks and shocks on a global level that risk managers, corporate executives, board directors and government officials may be not be prepared for. Though technological advancements and dedicated technicians have made the internet more resilient to attack, the potential for future attacks could be catastrophic, affecting globally interconnected systems.

Zurich Insurance Group and the Atlantic Council's latest report, "Risk Nexus: Beyond Data Breaches: Global Interconnections of Cyber Risk" explores new risk management insights on cyber risk, shocks and resilience.

Industry specific insights from the RIMS 2014 annual conference will help prepare risk managers to address future cyber shocks and build their resilience, and Zurich's report further details recommendations for managing risks, including a combination of the following sector-specific factors:

• Shift from protection to resilience
• Improve basic cyber security
• Embrace new technology while managing the risks involved
• Implement incident response and business continuity planning
• Focus on interconnection risk
• Push out of the risk horizon and look beyond their four walls
• Practice broad level risk management.

"To help protect the integrity and reliability of cyberspace and the bottom line for businesses, governments, the private sector and civil society must work closely together," said Dan Riordan, CEO Zurich Global Corporate North America. "We need a clear plan of what to do in the case of an event – both at the individual company level and also holistically and hopefully this report becomes a catalyst for developing such a plan."