A survey conducted by Marsh has found that most European organizations are not doing enough to identify, analyse and understand their firm’s cyber risks and suggests that this may be caused by a lack of risk management and board ownership.
Highlights of the 2015 European Cyber Risk Survey Report include:
- IT departments continue to take primary responsibility for cyber risk in 65 percent of European companies polled.
- 79 percent of European organizations have, at best, a basic understanding of their exposure to cyber risk.
- 43 percent of the risk professionals surveyed have not yet identified one or more cyber scenarios that could affect their business.
- 68 percent have not estimated the financial impact of a cyber-attack.
- 25 percent of organizations surveyed do not have cyber risk on their risk register. Another 30 percent place it outside the top ten risks.
The benchmarking data in this report was collected from risk professionals from large and medium-sized companies across Europe.
Read the report (PDF).