Cyber risk – fix up, look sharp

Cyber risk – fix up, look sharp

A new global survey on cyber risk perception by Marsh and Microsoft Corp, which took in responses from over 1,300 senior business executives, has found that many organisations are not particularly confident in their capability to manage the risk of a potential cyber attack. This is despite the fact that most view cybersecurity as a primary issue of concern – two-thirds of respondents list it among their company’s five main risk management priorities, approximately double that who said the same in 2016. Those from businesses who had previously suffered the consequences of successful attacks were, perhaps unsurprisingly, more likely to put it as a priority than those who hadn’t.

Seventy-five per cent of respondents said that business interruption posed the greatest thread to their organisation, were a cyber attack to occur, while 59 per cent listed reputational damage and 55 per cent listed breach of their customers’ information.

“While technology is the foundation of any good cybersecurity strategy, companies can benefit from investing in non-technology solutions like risk management as part of a holistic approach,” said Matt Penarczyk, Vice-President and Deputy General Counsel at Microsoft. “Through advanced technology, tools and training, for example, companies can better protect the data in their networks and be ready for the business interruptions and reputational risks associated with cyberattacks.”

The full survey can be found here – https://www.marsh.com/us/insights/research/global-cyber-risk-perception-...