2016 Information Security and Cyber Risk Management Survey

zurich-cyber-250x324Advisen wrote a white paper that presents the results of “The Sixth Annual Survey on the Current State of and Trends in Information Security and Cyber Risk Management”. The survey conducted by Advisen and Zurich North America focuses on the current push by businesses to become resilient against information security threats and how the insurance industry plays a vital role.

The free, 13-page paper is sponsored by Zurich.

Managing Cyber Risk

The cyber security landscape continues to rapidly change and businesses of all sizes and across all industries are increasingly exposed.

Sophisticated cybercriminals are defeating traditional approaches to cybersecurity, leaving organizations vulnerable to the costly and disruptive consequences of a data breach or other cybersecurity failure. Preparation and awareness at all levels of an organization are essential to helping reduce the likelihood of a breach and minimize its impact.

But how truly concerned are businesses? And how are they responding to these evolving threats?

With these questions in mind, Advisen and Zurich North America came together for a sixth consecutive year to study how business attitudes and strategies continue to evolve in information security and cyber risk management. The study represents a sustained commitment by both organizations to stay current with these evolving risks and the impact they have on businesses across the United States.

One theme that is constant throughout is a heightened need by businesses to become resilient against information security threats. As businesses work towards this resiliency goal, the insurance industry can play an important role in identifying emerging risks and responding to their needs.

The survey was completed at least in part by 345 respondents.

Over the last six years, the proportion of companies buying cyber insurance has increased by 85 percent.