It looks like a lot of enterprises need to get their acts together when it comes to managing risk, and particularly the risk associated with cyber security threats and vulnerabilities.
There’s no question that awareness of threat vectors and the need for stronger defenses has increased in recent years. How could it not, with all the highly publicized data breaches? Yet recent research shows that many organizations continue to struggle with managing the risk associated with cyber activities.
For instance, the 2018 Cyber & Data Security Risk Survey Report by insurance firm Marsh & McLennan Agency (MMA) noted that there is a gap between perception and understanding of cyber risk. Digital technology, which has made it possible for enterprises to gather vast amounts of data, has also made it possible for attackers to gain access to that data, the report noted.
The firm surveyed 1,141 executives from small and middle-market organizations across North America, and found that they are clearly concerned about cyber risk but by their own admission do not have a grasp of how to protect themselves. Nearly 60% said they consider cyber attacks to be one of the top five risks they face; 78% said…
