Final answer:
Cyber risk is a unique type of technology risk that encompasses threats stemming from our reliance on digital technologies, including risks like breaches of privacy, theft of personal information, and complete system failures.
Step-by-step explanation:
Cyber risk refers to the potential negative consequences and threats that can emerge as a result of our dependency on digital technologies and online systems. The term encompasses various types of risks, such as the vulnerability of technological infrastructures to cyber attacks, which can lead to total system failure, breaches of privacy, and theft of sensitive personal information. Cyber risk is considered a unique type of technology risk attributable to our increasingly connected world, where a significant degree of our personal, societal, and organizational activities and data exist online, making them susceptible to various cyber threats. Examples of such risks include large-scale data breaches that have affected companies like Target and JP Morgan, compromising millions of individuals' personal information and potentially leading to identity theft.