The rise in cyber attacks is forcing companies to rethink their approach to risk management, according to a new report from Marsh & McLennan Companies’ Global Risk Center and education and development organization WomenCorporateDirectors (WCD).
“With increasing threats of attack on their data and systems, boards are demanding much more information about their organizations’ risks and how well they are covered against loss and breaches,” said Susan C. Keating, CEO of WCD.
For the study, Cyber Risk Management Response and Recovery, Marsh & McLennan’s Global Risk Center interviewed WCD corporate directors to find how their companies were addressing cyber threats and the use of cyber insurance.
“As the global regulatory landscape becomes more complex, cybersecurity is gaining increased board-level attention,” said Elisabeth Case, US cyber advisory leader for Marsh, a subsidiary of Marsh & McLennan Companies. “Boards are definitely stepping up their oversight.”
However, the report found that company leaders are still worried about factors they believe put their…
