2017 has seen several high-profile cyber events – data security losses impacting millions of consumers’ personal information, and malware and ransomware attacks shutting down network systems and, in many cases, slowing or actually halting business operations.
To find out where businesses stand in the wake of these developments, Zurich North America and Advisen present their seventh annual survey on the current state of and trends in information security and cyber risk management.
A number of the findings from this year’s survey indicate that corporate concerns about cyber may be waning, even as the nature of cyber attacks has evolved to include ransomware and malware.
- For the first time in the seven years of the survey, there has been a decline in how seriously C-Suite executives view cyber risk.
- Sixty percent of the risk professionals surveyed said executive management view cyber risk as a significant threat to their organization. This is down significantly from 85 percent in 2016.
- Only 53 percent of respondents knew of any changes to their companies’ cyber security systems in response to the high-profile attacks that took place in early 2017.
- The purchase of cyber insurance growth has gone stagnant after a steady six-year increase from 35 to 65 percent.
Read the complete survey report for more insights on the state of business of cyber risk awareness and practices.