Global Survey of Cyber Risk Perception

Cyber risk is currently one of the priorities of the corporate agenda of companies, but strategies to manage cyber risk do not go hand in hand with the increase of this dangerous threat and the potential magnitude of the financial impact.

The new global survey conducted by Marsh in partnership with Microsoft was done to more than 1,300 executives, and examines cyber risk targets and management strategies by organizations of all sizes in a range of global industries.

Two thirds of respondents ranked cybersecurity as one of the five risk management priorities, but only 19% expressed full confidence in their company's ability to manage and react to a cyber attack, and only 30% They have developed a plan to do it.

Other key points that were found are in reference to the mismatch between the awareness of cyber risk and the approach that is given:

• 70% of the respondents pointed to the IT department as the main owner and the decision maker for the control of cyber risk management, compared to the 37% who mentioned the board as responsible for risk management.

• 75% identified the business interruption as the cyber loss scenario with the greatest potential for a financial impact, but less than 50% have actually estimated those economic losses (and of that percentage, only 11% measure the exposure to cyber risk in a quantitative way).

• One in five organizations do not have or do not plan to buy cyber insurance at present, and 25% do not know the status of their cyber insurance.