Cyber risk is high on the agenda for many New Zealand businesses, however, few are highly confident in understanding or responding to a cyber incident nor comprehend the risks their suppliers pose.
This is according to a new global survey conducted by Microsoft and Marsh, a provider of insurance broking and risk management solutions.
While 60% of the survey’s New Zealand respondents said that cyber incidents were in their top five risks, only 22% said they were highly confident in managing, responding and recovering from a cyber incident and 35% in understanding and assessing their cyber risks.
43% of respondents did not assess the cyber risks of their vendors or suppliers and 20% did not know if they were even exposed to any risks from their supply chain.
“Cyber risk is a topic that has been talked about for some time given our increasing dependence on technology,” says Marsh head of specialities Fred Boles.
“It is therefore surprising that many organisations are still unaware what their cyber risks are including the risks that suppliers pose.”
In regards to the scenarios that would create the greatest impact on NZ organisations, 80% of those…
