Resilience found.

Buoyed by interconnected systems and reliance on ubiquitous software vendors, third-party risk has quietly taken centre stage as one of the industry’ s most insidious threats. Today’ s enterprises must not only stay abreast of their own security posture, but that of their partners too – or risk catastrophic losses.

Threat actors have a track record of exploiting a single point of failure in one company to create a cascading effect of disruption and chaos downstream. New cyberinsurance claims data from Resilience’ s portfolio illustrates the financial fallout of this domino effect, finding that third-party risk, including ransomware and outages affecting vendors, accounted for 31 % of all claims in 2024.

“ Third-party risk isn’ t only making headlines – it’ s driving unprecedented losses. While this risk is often invisible until it’ s too late, it’ s now clear that the industry has reached a tipping point,” said Vishaal‘ V8’ Hariprasad, Co-Founder and CEO of Resilience.

“ Businesses can no longer afford to consider their partners’ vulnerabilities as siloed from their own. By understanding this new reality of shared risk, enterprises can make smarter business decisions and meaningfully mitigate material loss.”

The report Intelligent data governance: Why taking control of your data is key for operational continuity and innovation covers the foundational importance of data control in the age of AI, with a focus on ensuring modern enterprises’ cyber resilience and compliance.

“ Data is the foundation of innovation and preparedness. By focusing on data governance, CISOs and CIOs will lay the groundwork to effectively manage and grow their modern, datadriven enterprises. We hope our new report, with its practical approach to data governance, will give needed insights into data, its importance, and the crucial role intelligent data governance can play in today’ s cybersecurity landscape,” said Kim Larsen, CISO at Keepit.

Keepit interviewed 30 senior IT leaders across a range of industries and regions. These in-depth conversations revealed a number of trends that serve as context for today’ s enterprise IT organisations, including cloud flexibility, the rise of AI and budget pressures.

Based on the results, CIOs and CISOs will play increasingly crucial roles in enabling enterprises to ensure resilience and will need to prioritise their efforts to outfit their organisations with tools to lay a sustainable foundation for business continuity. For these IT decision-makers, data control will be a prerequisite to achieving this goal.

“ Data governance paves the way for data resilience,” added Kim Larsen.

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