To many multinational corporations, the findings of the recent Marsh-Microsoft 2019 Global Cyber Risk Perception Survey have provided a fruitful lesson in the value of knowing what you don’t know. Yet, despite the global trajectory of declining confidence in organisations’ ability to assess, manage and mitigate cyber risk, UK companies have rapidly increased in confidence in these areas since 2017.
Since that year, globally, there has been a 100% increase in the number of firms saying they have “no confidence for understanding and assessing cyber risks”. This rapid decline of global confidence in critical areas of cyber resilience highlights a growing concern surrounding cyber risk.
Sarah Stephens, head of cyber, media and technology at Marsh, highlighted how an influx of available information regarding cybercrime is likely responsible for this change. However, Stephens said there is a positive element to this decreased confidence, with its implication of increasing awareness in this area, thus stimulating discourse on how best to manage the risk.
Organisations in the UK and…
