Zurich Resilience Solutions (ZRS) has appointed Dan Elliot as its new head of cyber resilience in Australia.

Elliott (pictured) will lead a newly formed team focused on providing cyber risk advisory services to businesses as cyber threats continue to increase in frequency and complexity.

Zurich Resilience Solutions new cyber risk advisory services

ZRS, part of Zurich Insurance Group, offers risk management support beyond insurance, helping organisations manage the challenges of cyber risk, climate resilience and supply chain disruptions.

With the creation of this new cyber resilience capability, ZRS aims to expand its offering to Australian businesses facing increasing cyber threats.

Zurich Resilience Solutions, Australia’s Cyber ​​Resilience Lead

Elliott previously served as Director of Cyber ​​Risk Consulting at ZRS 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 look forward to leading and continuing to strengthen ZRS Australia’s cyber resilience unit,” he said, adding that it is crucial for businesses to have the knowledge and tools necessary to strengthen their resilience.

Urgent need to increase cyber resilience

The announcement coincides with the release of Zurich’s latest report, “Closing the Cybersecurity Gap,” which highlights the urgent need to enhance cyber resilience to protect the global economy.

The report recommends collaboration between the private and public sectors and outlines strategies to manage both measurable and non-measurable cyber threats, particularly through public-private partnerships and alternative incentives instead of additional regulation.

The growing financial impact of cyber incidents was also highlighted. The global cost of cybercrime is expected to rise from $8.5 trillion in 2022 to $24 trillion in 2027.

Cybersecurity concerns

The growing reliance on digital solutions has heightened concerns about cybersecurity.

The Global Risks Report 2024, published by the World Economic Forum in cooperation with Zurich, listed cyberattacks as one of the five greatest threats facing the world today.

Nearly 40% of surveyed experts considered cyberattacks to be a major threat that could cause significant disruptions in the near future.

Cybersecurity gaps in Australia and New Zealand

Further evidence of the challenges posed by cyber threats in the region comes in a report by New Zealand email security firm SMX.

While DMARC adoption is growing, particularly among Australian government agencies, gaps still exist. The SMX report found that 92% of Australian federal agencies have implemented DMARC, and 79% are enforcing it.

The SMX report also examined the adoption of DMARC 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.