Survey finds more than two-thirds of executives are very or somewhat concerned about technology risk
More corporate executives are concerned about cyber threats than about other major business risks, according to a new survey sponsored by AIG.
More than 85% of the 258 risk managers, IT decision-makers, executives and brokers surveyed said they were very or somewhat concerned about their company’s exposure to cyber risks, much higher than six other areas of risk, including income loss (82%), property damage (80%), and securities and investment risk (76%).
AIG professional liability head John Gambale said: “These new survey findings confirm that business leaders view cyber risk as a top business concern, with great potential for reputational and financial loss.”
Much of this may be down to a lack of information, with 80% of respondents indicating that they find it difficult to keep pace because the cyber threat is evolving so rapidly.
More than two-thirds (69%) of respondents said reputational risk resulting from a cyber attack is a far greater concern to their company than the financial risk. Compliance was also a major factor, with three-quarters saying legal compliance issues are making them think more about cyber.
No comments yet