Cybercrime is no longer just an IT issue — it’s a significant business and national security threat, especially for the energy sector. Unlike other industries, cyberattacks on energy infrastructure can jeopardize public safety, disrupt national services, and paralyze communities, according to Johnty Mongan, Global Head of Cyber Risk Management Gallagher.

„When it comes to the energy sector, I believe it’s one of the few industries where there is a genuine risk to human life. Think about the critical role it plays — supplying power to hospitals, essential infrastructure, or sectors that simply can’t function without electricity. What really stood out to me is that, across all of Gallagher’s cyber insurance claims, 16% came from the energy industry. That’s a significant number, and I believe it’s because the sector is such an attractive and high-impact target for cybercriminals”, he said at the DigitALL 2025 conference organised by Energynomics.

This sector’s vulnerability stems from its reliance on connected systems that are often easily found online. Public tools allow hackers to locate exposed control systems, login portals, and databases, turning visibility into vulnerability. In a recent search, over 89 million energy-related systems were publicly exposed.

Real-time monitoring and reduced digital footprints are critical first defenses, but cyber insurance is equally vital, not just as a safety net but as a strategic financial tool. Modeling helps determine the right coverage level, ensuring organizations aren’t left alone during a crisis. In cybersecurity, preparedness and proactive defense are no longer optional, they’re essential.

DOWNLOAD THE PRESENTATION OF JOHNTY MONGAN

„Nearly all industries, all countries go through a cycle of naivety. (…) In my view, the energy sector is a prime target for cybercriminals. There’s real value in attacking an energy company. Bad things can happen fast. That’s why cybercriminals are drawn to it: they know there’s a higher chance the company will pay a ransom or hand over money in exchange for regaining access to parts of their network”, he added.

The “DigitALL 2025” conference was organised by Energynomics, in partnership with reputed organisations such as the CIO Council and EPG, with the support of our partners: ABB, Corning, Datacor, Eaton Electric, Enevo Group, Enevo Group, Procesio, Renomia, script.ai, Sunwire, Vertiv.