Our recent Global Directors and Officers (D&O) Cyber Risk Survey spotlighted the continued board level concerns around threats in the digital realm. Cyber-attacks, data loss, and cyber extortion maintained their dominance as the top three concerns globally for directors and officers. The survey, set across various industries, highlighted critical facets of cyber risk management, with a particular focus on cyber incident response and preparedness.
The survey underscored the increased focus on preparedness and response in dealing with cyber incidents. Notably, three-quarters of respondents reported conducting cyber tabletop exercises within the past year. However, only slightly over half of them expressed confidence in their organisation's ability to effectively manage a cyber incident.
With the increasing frequency and sophistication of cyber-attacks, businesses must adopt a holistic approach to cyber risk management. Establishing a well-defined and rigorously tested incident response plan is not an option; it's a necessity.
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