Confidence to manage cyber risk stalls – Marsh

A report from broker Marsh and technology giant Microsoft has found the upheaval of recent workplace disruption and accelerated digital transformation has left most business leaders no more confident in managing their cyber risk than they were two years ago.

Tom Reagan, cyber risk practice leader, US and Canada at Marsh, said: “Cyber risks are pervasive across most organisations. Successfully countering cyber threats needs to be an enterprise-wide goal, aimed at building cyber resilience across the firm, rather than singular investments in incident prevention or cyber defense.

“Greater cross-enterprise communication can help organisations bridge the gaps that currently exist, boost confidence, and better inform overall strategic decision making around cyber threats.”

In 2019, 19.7% of respondents stated they were highly confident in their organisation’s core cyber risk management capabilities. In 2022, this had dipped to 19%.

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