As large corporations increasingly rely on advanced technology and remote work, cyberattacks have become the top concern for risk managers, according to a new survey from Nationwide. Despite dedicating more time and budget to cybersecurity, risk managers are struggling to keep pace with evolving digital threats—especially those driven by AI. A full 77% expressed concern about their company’s vulnerability to generative AI attacks.
Preparation is high, with 92% of risk managers saying their company is prepared to recover from an attack, and 86% having a cyber incident response plan in place. However, 32% report their company lacks a dedicated cyber insurance policy, citing management’s failure to recognize its value.
“As digital threats grow, a single cyberattack can cripple entire systems in minutes,” said Tim Nunziata, VP and head of Cyber Risk for Nationwide Excess and Surplus/Specialty. “While prevention and employee training are critical, they’re not always enough. Companies need robust cyber insurance to ensure financial stability after an attack.”
Top Risks for Large Businesses
Risk managers identified their biggest risks as IT and…
