Preparing for the inevitable

Preparing for the inevitable | Insurance Business

Preparing for the inevitable

When it comes to cyber risks, many companies are likely to face an attack, but not all will be victims

Cyber attacks are becoming close to sure thing: In the past year alone, one in every three companies surveyed by Willis Towers Watson weathered a cyber incident that had an effect on or threatened operations, financials and reputations. Expectations are high that there are more such events to come.

High levels of cyber resiliency mean an organisation can quickly respond to an incident, address vulnerabilities and apply lessons for the future. Many executives are confident in their company’s cyber resilience; however, many conceded that they’re falling behind in attracting talent skilled in cybersecurity. Many also said they lack the ability to drive their workforce to be more cyber-savvy. The combination of these two issues indicates a need for change on the human side of cyber resilience.