Despite all the attention that cyber threats and cyber attacks get in the mainstream media, top business leaders and executives are still not paying enough attention to cyber risk. That’s the big takeaway from a new report from Marsh and Microsoft (“2019 Global Cyber Risk Perception Survey”) that surveyed more than 1,500 global organizations about cyber risk management practices. In fact, only 17% of C-suite or board members who are responsible for cyber risk management spend more than a few days per year focusing on cyber risk. And more than half (51%) of those responsible for cyber risk management spend less than a day per year focusing on cyber risk issues.
Gap between awareness and action for cyber risk
Perhaps the primary finding that stands out in this 2019 Marsh-Microsoft cyber risk survey, which follows up on a similar study conducted in 2017, is just how big the gap remains between theory and practice. In other words, survey respondents almost unanimously agreed that cyber risk was an important concern, and that their organizations should be doing more to prevent, mitigate and respond to cyber threats. Yet, at the same time, more than…
