Few organizations are highly confident in their ability to manage the risk of a cyber-attack, despite viewing cybersecurity as a top risk management priority, according to a survey conducted by Marsh and Microsoft.
Cybersecurity confidence
In the global survey of more than 1,300 senior executives, two-thirds ranked cybersecurity among their organizations’ top five risk management priorities – approximately double the response to a similar question Marsh asked in 2016.
The survey also found that a vast majority – 75% – identified business interruption as the cyber loss scenario with the greatest potential to impact their organization. This compares to 55% who cited breach of customer information, which has historically been the focus for organizations.
Despite this growing awareness and rising concern, only 19% of respondents said they are highly confident in their organization’s ability to mitigate and respond to a cyber event. Moreover, only 30% said they have developed a plan to respond to cyber-attacks.
“Cyber risk is an escalating management priority as the use of technology in business increases and the threat environment gets more complex,” said John…
