As technology becomes more critical to company success, the number of cyberattacks has climbed. As a result, Cyber risk has become one of the top risks for companies around the world, according to the Marsh-Microsoft Global Cyber Risk Perception Survey. Almost two-thirds of survey respondents identified cyber risk as one of their organization’s top-five risk management priorities—almost double the percentage who rated cyber as a top risk in a 2016 study, Marsh said, adding that respondents whose organizations had been successfully attacked were slightly more likely to prioritize cyber risk than those who had not.
Despite these concerns, however, the study notes that just one in five respondents said they are “highly confident in their organization’s ability to manage and mitigate cyber risk or respond and recover from an attack.” This was especially the case among corporate directors, who play an important role in protecting their organization from cyber threats. While about 70% of respondents who identified as board members said they ranked cyber risk as a…
