Cybersecurity: Confidence or Crisis?

Report 3 November

Cybersecurity: Confidence or Crisis?

Cybersecurity is a constantly moving target. The challenge has only been made greater over the past two years as remote work and the ubiquitous adoption of cloud services and digitally integrated supply chains has expanded the available attack surface for bad actors to penetrate.

This report aimed to understand how companies are steeling themselves against rising cyberattacks. We sought to learn about the investments that organizations are making in their technical defenses, their adoption of related insurance coverage, and how they view the threat landscape in the short and medium term.

Highlights include:

  • While the vast majority of TMT (86%) and Financial Services executives (80%) are confident in their existing cybersecurity capabilities, only 34% of Energy, Mining & Utilities respondents feel the same.
  • Respondents identify the increasing number of cyberattacks as their number-one cybersecurity challenge over the past few years, with the rapid pace of technological innovation and various staffing-related issues following close behind.
  • Just over half of all respondents (53%) do not currently have a policy in place for responding to ransomware attacks.

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